Stocks suffer third straight drop and worst session since September 2022
The “Magnifient Seven” tech leaders lost nearly $800 billion in market value, this as Warren Buffett dumped a good chunk of his Apple holdings
Fears about a U.S. recession began last week and spilled over into Monday after a sharp drop in Asian markets
Japan’s stock market had the worst session since 1987
Wall Street’s fear gauge spiked as investors dumped stocks
Some investors call on the Federal Reserve to take action
Cryptocurrencies got slapped around in tandem with stocks
BLOOD BATH: The Dow Jones Industrial Average lost over 1,000 points on Monday in volatile trading, while the Nasdaq Composite and the S&P 500 lost a hefty 3% … continue reading here. The so-called Magnificent Seven, which includes Google, Apple, Tesla, Microsoft, Netflix, Alphabet and Meta, lost a combined $1 trillion during Monday’s session before settling just below that level … LIVE: market updates.
VIDEO: A look at what’s behind the market sell-off.
RECESSION FEARS ARE REAL: After a weaker July jobs report and data on manufacturing, economists are upping the odds of a recession … continue reading here.
BROKE THE LAW: Alphabet’s Google faces a damning decision from a federal judge who ruled the search giant is breaking the law … continue reading here. This added further pressure to the stock … more on Google here.
BRUISED: Warren Buffett’s Berkshire Hathaway disclosed he cut his stake in Apple by a large amount … continue reading here. The move slammed the shares … more on Apple.
THE ETF REPORT: NEED-TO-KNOW INSIGHTS
JAPAN’S JOLT: The Nikkei sank over 12%, the worst day since 1987, as the yen rallied to a seven-month-high vs. the U.S. dollar, triggering a crunch for investors and roiling global markets … continue reading here.
FEAR RAGES: The VIX Index, which measures market volatility and fear, spiked to the highest since 2020 … continue reading here.
VIDEO: Are investors right to be nervous about the U.S. stock market right now?
SHORT CIRCUIT: Several online brokerages reported that customers could not access accounts, among other glitches, as the market was in free fall … continue reading here.
DO SOMETHING?: Economists say the Federal Reserve dropped the ball by not raising interest rates and are now demanding action … continue reading here. Read more on the Federal Reserve here.
VIDEO: Why the Fed should not make a surprise move, says El-Erian.
CRYPTOS CRUSHED: Bitcoin and Ethereum got slammed in tandem with stocks … LIVE PRICES FOR CRYPTOCURRENCIES: HERE
VIDEO: Making the case for owning cryptocurrencies.
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