December 4, 2018
Tuesday's news is light but White House officials including President Trump did concede the possibility that a trade agreement with China might fall through. The Dow closed at its lows dropping 3.1 percent to 25,027. The Nasdaq dropped 3.8 percent to 7,158.
Money poured into the 10-year Treasury note where the yield fell 8 points to a 2.91 percent level that is only 11 basis points separated from the 2-year yield at 2.80 percent. The last two times these yields inverted, in 2000 and 2007, recession followed. The dollar once again held steady with oil little changed near $53 and gold firm and edging higher near $1,245.