UK prime minister Liz Truss stood by proposed tax cuts, despite a chorus of vocal critics. AdvertisementUS stocks sank Thursday following a relief rally in the prior session, as mounting recession fears and UK market turmoil renewed the sell-off. Major indexes still ended deep in the red, though, with the S&P 500 hitting a new closing low for the year. Treasury yields jumped again, as investors mulled continued Federal Reserve hawkishness even in the face of growing recession odds. The 10-year Treasury yield gained six basis points to 3.76%.

Source: Economic Times September 30, 2022 09:15 UTC