Ticker: Dow sinks to 2022 low as recession fears roil world markets

Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates.

The Dow Jones Industrial Average closed at its lowest point since 2020 Friday. The S&P 500 fell 1.7%, close to its 2022 low. Energy prices also closed sharply lower as traders worried about a possible recession.

Revamped Detroit auto show now also features new flying tech

The Detroit auto show has returned with a roar. And a soar. The prestigious North American International Auto Show last was held in 2019. Visitors once again can lay eyes on the latest offerings from some of the world’s biggest automakers.

But now they also can check out what organizers call “the show above the show.” The Air Mobility Experience features displays and demonstrations from six air mobility innovators that include an electric vertical takeoff and landing aircraft, a hoverbike, a hoverboard and a jet suit. The show runs through Sunday at a downtown convention center.

German leader seeks energy deals, alliances on Gulf trip

German Chancellor Olaf Scholz arrived Saturday in Saudi Arabia for the first stop of a two-day, three-country visit to the Middle East aimed at striking new energy deals and forging fresh alliances amid the economic and geopolitical turmoil resulting from Russia’s invasion of Ukraine.

The German government has scrambled to wean Europe’s biggest economy off Russian oil, coal and gas since coming to office last December.

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