Wall Street tumbles after yield curve inverts

Newsflash: Stocks are sliding at the start of trading in New York, as investors fear than an American recession could be looming

In early trading....

Dow Jones industrial average: down 425 points or 1.6% at 25,854
S&P 500: Down 44 points or 1.5% at 2,881
Nasdaq: Down 138 points or 1.7% at 7,878

Technology stocks and banks are among the fallers, as traders shun risky assets. Bank of America has shed almost 3%, while Apple has lost 2.3%.

The inversion of America’s government bond yield curve today has clearly worried Wall Street, given its track record of predicting recessions.