LIVE UPDATES: Stocks in freefall, 10-Year Treasury yield tops 3%
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Former Chairman of the council of economic advisors Kevin Hassett discusses the tech-led selloff, the chances of a recession and the Fed's delayed response to inflation.
Workers at GM factory
Nonfarm business sector labor productivity decreased 7.5%in 1Q - the largest drop since 3Q of 1947 when it fell 11.7%.
Bureau of Labor Statistics reported today, as output decreased 2.4 percent and hours worked increased 5.5 percent.
The Fitz-Gerald Group chief investment officer Keith Fitz-Gerald discusses the market selloff as the Dow falls 1,000 points.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| SP500 | $4,138.54 | -161.63 | -3.76% |
S&P vs. 10-Year Treasury Yield
| Symbol | Price | Change | %Change |
|---|---|---|---|
| TWTR | $49.06 | +0.19 | +0.39% |
NYSE traders (Courtney Crow/New York Stock Exchange via AP)
U.S. equity futures ticked lower following Wednesday's huge rally for stocks. Continue reading
Federal Reserve Chair Jerome Powell (AP Photo/Jacquelyn Martin)
Federal Reserve Chairman Jerome Powell alleviated some concerns of a looming economic recession after he rejected the possibility of an even larger interest rate hike than the one the U.S. central bank announced on Wednesday. Continue reading
Oil wells (iStock)
Oil prices were choppy Thursday morning after a European Union proposal for new sanctions against Russia included an embargo on crude in six months. Continue reading
Gas Prices (AAA)
The average price for a gallon of gasoline in the U.S. rose on Thursday to $4.247, according to the latest numbers from AAA. The price on Wednesday was $4.226. The record high was $4.33, set on Friday March 11, 2022.
Illustration of Bitcoin ( Reuters Marketplace - DPA Pictures)
Bitcoin is trading around $39,000 after gaining 5% on Wednesday, the same day the Fed raised interest rates. Bitcoin remains down 14% year-to-date. Continue reading
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