GREENVILLE, NC (WITN) - Yesterday's bumpy ride on Wall Street has many financial experts worried that a recession could be in the country's future and how it could affect your wallet.
The economy has been on a high, but now financial advisors and business specialists say they are seeing signs that a recession may be on the way.
The yield on a 10-year treasury note fell below a 2-year yield Wednesday. Usually, when a bond has a longer wait, like 10 years, it is paid back with more interest. But, the roles switched yesterday for the first time since 2007 right before the last major recession.
Then, the Dow Jones had its biggest drop of the year.
Some people, like ECU Professional Services and Research Director Jim Kleckley, think the US-China trade war has something to do with it.
Kleckley said, “The situation with the tariffs concerns people. It increases prices, in fact, we've seen prices increase in Greenville."
However, there are others who are not as worried, citing the current strong economy and low unemployment rates.