"The market is now realizing that the economy is indeed slowing,” said Wasif Latif, president and chief investment officer at Sarmaya Partners. — Bloomberg
NEW YORK: Economic fears are roiling Wall Street, as worries grow that the Federal Reserve may have left interest rates elevated for too long, allowing them to hurt US growth.
Alarming economic data in recent days have deepened those concerns. US job growth slowed more than expected in July, a Friday report showed, while the unemployment rate increased to 4.3%, heightening fears that a deteriorating labor market could make the economy vulnerable to a recession.
Subscribe to The Star Yearly Premium Plan for 30% off
Cancel anytime. Ad-free. Full access to Web and App.
Monthly Plan
RM 13.90/month
RM 9.73/month
Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.
Annual Plan
RM 12.39/month
RM 8.63/month
Billed as RM 103.60 for the 1st year, RM 148 thereafter.
