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The stock market is slated to have its worst day in two years following a weak July jobs report. In the largest single-day selloff since 2022, the Nasdaq and Dow Jones both lost 2.3%. Tech shares were hardest hit, with Amazon losing 11% and Intel losing 25% — one analyst called the latter crisis “existential”.
JUST IN: Over $2.9 trillion has been wiped out from major indices and stocks this morning due to growing fears of a global recession.
This is the worst day for stocks since March 16, 2020, during the COVID-19 pandemic fears. pic.twitter.com/qIPu7xiz5X
— Jacob King (@JacobKinge) August 2, 2024
It’s dampened the economic optimism of the past few months, with the WSJ’s economic ‘Fear Gauge’ spiking to a two-year high. Recession is coming…
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SubscribeThe market is beginning to price in a Harris victory.