new York Concerns about the economy also weighed on the US stock exchanges on Tuesday. The Dow Jones index of standard values closed one percent lower at 33,596 points. The tech-heavy Nasdaq fell 2 percent to 11,014 points, while the broad S&P 500 fell 1.4 percent to 3,941 points.
Analysts expect the downward trend to continue. The market needs to recognize that a recession is a reality and not just a hypothesis, said Jason Pride of wealth manager Glenmede. “On average, markets trade at a discount to fair value during recessions, which has not been the case in the past,” Pride said. “There is not a single instance in history where a market bottomed out before the recession hit.”
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