Article snippet: Fears of a looming U.S. recession hit new heights on Wednesday as warning signs of a slowdown flashed around the world. U.S stocks suffered their worst day of losses this year — sending the Dow Jones Industrial Average down 800 points — after turmoil in the U.S. bond market and dour economic data from Germany and China raised the odds of a worldwide contraction. The market plunge reflects growing worries that the economy could also be headed for a contraction next year, ending more than a decade of consistent growth since the 2008 global financial crisis. The darkening economic clouds come at a difficult time for MORE, posing a direct threat to his plans to ride a wave of robust U.S. job market and consumer spending to a second term. The president was quick to blame the Federal Reserve for Wednesday’s stock plunge, heaping scorn on his frequent economic scapegoat as central banks around the world cut their rates. “We are winning, big time, against China,” Trump tweeted shortly before the stock market closed Wednesday. “Our problem is with the Fed,” Trump continued. “We should easily be reaping big Rewards & Gains, but the Fed is holding us back.” Trump has frequently touted stock markets and their steady rise as an indicator of his economic performance. Despite the plunge on Wednesday, the Dow remains close to 25,500 points, well above the roughly 19,800 points it was trading at the day he took office in January 2017. Meanwhile, the unemployment rate has re... Link to the full article to read more