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"US economy contracts in second quarter, deepening recession fearsThe US economy contracted for a second straight quarter between April and June, government data showed Thursday, fueling recession fears just months before key midterm elections in a blow for President Joe Biden.Gross domestic product declined at an annual rate of 0.9 percent in the second quarter, following a bigger drop in the first three months of the year, according to the Commerce Department.Two quarters of negative growth is commonly viewed as a strong signal that a recession is underway, and a downturn in the world's largest economy would have global consequences, as well as domestic political costs."
<https://economictimes.indiatimes.com/markets/stocks/live-blog/bse-sensex-today-live-nifty-stock-market-updates-28-july-2022/liveblog/93174129.cms>