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Market Turmoil: Stocks Plunge on Weak Jobs Report and Economic ...
2024-08-03 09:00:08
Stocks
Economy
Markets

Market Turmoil: Stocks Plunge on Weak Jobs Report and Economic Concerns

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US stocks plummeted after a disappointing jobs report, with the Nasdaq entering correction territory. Economic data suggests a slowdown, fueling speculation on rate cuts.

Traders predict three cuts this year, with a potential 50-basis point reduction in September. Individual stocks like Intel and Amazon faced challenges, while Apple's shares rose.

The VIX surged, Treasury yields fell, and fears of a recession grew. Investor concerns about the economy cooling too quickly intensified, with pressure on the Fed to act more aggressively.

Market volatility reflected panic and fear, with various indicators signaling potential lows.

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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.

Stock Market Volatility: Global Markets Tumble Amid Economic ... Concerns

Global stock markets experienced significant declines as weak economic data and fears of a US recession sparked investor panic. The US stock market saw a sharp drop, with the S&P 500 falling 1.5% and the Nasdaq dropping 2.5%. The 10-year Treasury yield also fell below 4%, indicating concerns about the state of the economy. These declines were driven by factors such as the contraction in manufacturing, the unexpected decline in construction spending, and rising jobless claims. In Japan, the Nikkei 225 plummeted 5.8%, while other Asian markets also saw significant drops. Investors are now eagerly awaiting Big Tech earnings and the July jobs report, which could further impact market sentiment. Additionally, the Federal Reserve's decision on interest rates is being closely watched, with expectations of a rate cut in September. Overall, the volatility in global stock markets reflects the uncertainty surrounding the state of the global economy and the potential for a recession.

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US stocks plummeted on Friday following a disappointing July jobs report, raising concerns about the Federal Reserve's interest-rate strategy and a potential recession. The Nasdaq fell over 10% from its early July high, entering correction territory, while the Dow Jones dropped nearly 2%. The S&P 500 also sank 2.5%. Economic data indicated a slowdown, prompting speculation on rate cuts. Traders anticipate three rate cuts this year, with a 50 basis-point reduction in September. Additionally, in..
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