Stock Market Volatility and Economic Concerns Drive Global Slump

Global stock markets slump as US economic data weakens, jobless claims rise, and recession risks loom. US stocks tumble, S&P 500 and Nasdaq drop, while 10-year Treasury yield falls below 4%.

Meta stock rises on better-than-expected results, while tech giants like Intel and Arm face job cuts and declining earnings. Investors anticipate rate cuts from the Fed, with Fed Chair Powell signaling a likely September cut.

Big Tech earnings and upcoming jobs report are awaited. Uncertainties and crises impact the US market, with conflicts in the Middle East and recession fears weighing down stocks.

The VIX index, known as the 'fear gauge', reaches its highest level since March 2023. Weak earnings reports and planned job cuts in the tech sector contribute to the market decline. The Federal Reserve hints at a possible rate cut but notes 'some' progress on inflation.

The recent market swings are the most volatile in over a year, with the S&P 500 experiencing significant daily fluctuations.