- Sarah Jacobs
- US equities were under pressure Friday, with the major averages all down about 1.2%.
- The sell-off could be attributed to the inverted yield curve, the economist Ed Yardeni said.
- Crude oil plunged 2%, cracking below $59 a barrel.
- Watch the markets trade in real-time at Markets Insider.
Assets of all stripes took a beating Friday as a segment of the yield curve saw a rare inversion, renewing investors’ fears of slowing global growth.
The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all fell more than 1.2% as investors digested the news a portion of the yield curve had inverted, economist Ed Yardeni, the president of Yardeni Research, told Markets Insider. The closely monitored 3-month and benchmark 10-year US Treasury yield curve inverted on Friday for the first time in 12 years, sparking growth concerns and pushing the Dow down 300 points.
Crude oil fell 2%, sliding just below $59 a barrel.
This story is developing. Please check back for updates.
Read more markets coverage from Markets Insider and Business Insider: