Xinhua News Agency: Concerns of economic recession hit US stocks hard. An article by Xinhua News Agency pointed out that several important economic data in the United States fell short of expectations, causing market concerns that the US economy may fall into recession and putting severe pressure on market sentiment. Claudia Sam, Chief Economist of New Century Advisors, who previously worked at the Federal Reserve, said that although the United States has not yet entered an economic recession, the outlook is worrying unless signs of stabilization are seen.