Equities slide, bonds rise on Fed warning of prolonged recession
Share:
NEW YORK (Reuters) - Stock markets tumbled on Wednesday on fears about a second wave of coronavirus infections and warnings from Federal Reserve Chairman Jerome Powell that the U.S. faces a "significantly worse" recession than any downturn since World War Two, while bonds rose on a safety bid.Powell's comments came as parts of the global economy are starting to reopen following lockdowns aimed at curbing the spread of the virus, which has pushed unemployment rates to the highest level since the..