Yields slip, stocks struggle as economic fears grow

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Reuters UK

By Herbert Lash NEW YORK (Reuters) – U.S. stocks closed mixed on Monday as downbeat Chinese and New York state data kindled recession fears, but the 10-year Treasury note’s yield staying firmly under 3% spurred hopes the Federal Reserve will prudently hike interest rate hikes. Chinese retail and factory activity fell sharply in April as COVID-19 lockdowns severely disrupted supply chains while New York’s factory output slumped in May for the third time this year amid a collapse in new orders and shipments. The Chinese data cast a long shadow over the world’s second-largest economy while the st…

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