Why investors are increasingly worried about recession in America

So choppy has America’s stockmarket been this year that only a fool would predict mid-week (or even mid-Friday) whether prices will end the week up or down. This time the answer was up: at the market’s close on May 27th, the s&p 500 index of leading American shares had broken a seven-week losing streak. Thus far, at least, it has avoided (just) the 20% peak-to-trough decline that is the informal definition of a bear market. But there are signs that America’s markets are entering a new, more worrying phase.