Allianz Chief Economic Advisor Mohamed El-Erian explained on “The Craman Countdown” why the Federal Reserve should cut interest rates in September.
Stocks fall for third straight session, worst trading day since September 2022
The “Magnificent Seven” technology leaders saw their market capitalizations drop by nearly $800 billion after Warren Buffett sold a large chunk of his Apple stock.
Concerns about a U.S. recession began last week and continued into Monday following a sharp sell-off in Asian markets.
Japan’s stock market marks worst trading day since 1987
Wall Street’s fear index surges as investors sell stocks
Some investors are calling on the Federal Reserve to act.
Cryptocurrencies crashed in tandem with stocks
Bloodbath: The Dow Jones Industrial Average fell more than 1,000 points in volatile trading on Monday, while the Nasdaq Composite and S&P 500 both fell a massive 3%. … Read more. The so-called “Magnificent Seven” — which includes Google, Apple, Tesla, Microsoft, Netflix, Alphabet and Meta — lost a combined $1 trillion in trading on Monday before settling just below that level. LIVE: Market updates.
video: Let’s take a look at what’s behind the market sell-off.
Fears of a recession have become a reality. Weak July employment and manufacturing data have economists raising the chances of a recession… Read more here.
Breaking the law: Alphabet Inc.’s Google is facing a tough ruling from a federal judge who says the search giant violated the law… Read more here. This caused stock prices to fall further. … For more details, please see Google.
Wounded: Warren Buffett’s Berkshire Hathaway has revealed that it has significantly reduced its holdings in Apple… Read more here. This move caused stock prices to plummet… Learn more about Apple.
ETF Report: Insights you need to know
Japanese shock: The Nikkei stock average tumbled more than 12 percent, its worst day since 1987. The yen rose to a seven-month high against the U.S. dollar, putting investors on the fence and roiling global markets. Read more here.
Fear spreads: The VIX index, which measures market volatility and fear, surged to its highest level since 2020. Read more here.
video: Are investors right to be nervous about the U.S. stock market right now?
Short circuit: Several online brokerages reported glitches that prevented customers from accessing their accounts as the market plunged. Read more here.
Do you want to do something? Economists say the Federal Reserve has failed by not raising interest rates and are now calling for action… Read moreClick here for details The Federal Reserve.
videoEl-Erian explains why the Fed shouldn’t make any surprise moves.
Cryptocurrencies destroyed: Bitcoin and Ethereum crashed in tandem with stock prices… Live cryptocurrency prices: HERE
video: Arguing for the benefits of owning cryptocurrency.
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