US stocks fall as Federal Reserve warns the banking crisis could spur a recession and inflation rises again. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
By Sue LanninWall Street fell overnight after the minutes from the US central bank's latest meeting saw the Federal Reserve warning of a mild recession in North America because of the recent banking crisis.The latest US consumer inflation data showed that prices rose 0.1 per cent over March, and by 5 per cent over the year.
That was the slowest annual price rise since May 2021 according to the US Bureau of Labor Statistics.
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