US stocks fall on rising concerns about the economic outlook
US stocks fell on Wednesday after a fresh batch of bank earnings disappointed investors, fueling fears of a possible recession. Wall Street’s benchmark S&P 500 slipped 0.2 percent in morning trading in New York, with basic materials, energy and technology stocks among the worst performers. The tech-heavy Nasdaq Composite, which is up 15 percent this year, lost 0.1 percent. Europe’s region-wide Stoxx 600 fell 0.1 percent while Germany’s DAX rose by a similar amount. A slowdown in dealmaking following Morgan Stanley’s first-quarter results hit sentiment in the US after an...