Stocks take hits amid Wednesday trading, trade war

The Dow and the broader U.S. stock market took hits once again Wednesday as Wall Street investors fear the U.S.-China trade war will inflict broad damage on the global economy.After a one-day respite, panic has reignited over the trade war. Investors are pulling money out of stocks and buying up U.S. bonds and gold as safe havens.Economists at Rabobank are projecting a shallow global recession because the trade war is hurting financial markets, consumer confidence and the global economy. Rabobank reduced its worldwide growth projections below 3% on Wednesday.The 10-year U.S. government bond yield tumbled near a three-year low of 1.6651%. Bonds and yields move in opposite directions.Gold was also a big winner Wednesday. Gold futures crossed the $1,500 an ounce threshold for the first time since 2013. Gold rose 2.1% and is up nearly 18% this year.The Dow fell as much as 589 points before paring its losses. The index traded 200 points, or 0.8%, lower around midday. The S&…

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