Stock Market Today: Dow Dives 764 Points as Recession Fears Ramp Up

The major market indexes suffered their biggest one-day drop since September following the latest economic data.

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(Image credit: Getty Images)

 It was an ugly day for stocks as the major market indexes extended yesterday's Fed-induced slump into a second straight day. 

Today's selling was sparked by the latest batch of economic data, which exacerbated recession fears across Wall Street. Retail sales and manufacturing data released early Thursday showed that the Federal Reserve's aggressive campaign of interest rate hikes are indeed cooling both the U.S. economy and inflation. And yet Fed Chair Jerome Powell warned Wednesday that rates could stay higher for longer until tightness in the labor market starts to ease. 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.