US Junk Bonds Plunge in Worst Day in 6 Months Amid Recession Fears

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The U.S. junk bond market suffered its worst single-day drop in six months last Friday, with prices plunging and spreads widening to 304 basis points amid economic uncertainties like inflation and Fed policy shifts. Yields hit 6.99%, signaling rising caution. Investors are shifting to safer assets as recession fears grow.

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