Stock Market Today: December 10, 2018
William G. Ferguson | 12/10/2018
The most recent abbreviated week of trading on Wall Street was a very difficult one for those owning stocks. The week started on a positive note, with the equities rallying on hopes of a breakthrough in talks between the United States and China on trade, but those good tidings didn’t last long as further commentary showed the two nations are still far apart on reaching a compromise. On Tuesday, the market took a turn for the worse, with an inverted yield curve for the three- and five-year Treasury notes, though not as telling as an inverted curve for the two- and 10-year notes, unnerving investors. Historically, an inverted yield curve, where short-term notes are yielding more than long-term debt, has indicated that the economy is slowing and preceded a number of recessions. Then on Friday, weaker-than-expected job growth further scared investors, as it, along with weakening housing data, may be further signs that U.S. economic growth is starting to slow.