Reported 2 months ago
On August 5, 2024, US stock markets suffered a substantial decline, with the Dow Jones Industrial Average plummeting over 1,000 points and the Nasdaq losing 3.4%, amid heightened concerns over a potential recession. The situation was exacerbated by a surprise interest rate hike from the Bank of Japan, leading to forced selling as investors reacted to a series of negative economic indicators, including weaker-than-expected job reports and significant cuts to holdings in major companies like Apple by Berkshire Hathaway. This sell-off has raised fears that the Federal Reserve may need to implement urgent interest rate cuts to stabilize the situation.
Source: YAHOO