🚨 MARKETS SELLING OFF GLOBALLY
— Toria Brooke (@realtoriabrooke) August 5, 2024
pic.twitter.com/ZLMOa47GgC
Fox Business reported, "We have never been 1,000+ points ever, not even intraday on the Nasdaq."
NOW - Market selloff: "We have never been down 1,000+ points ever, not even intraday on the Nasdaq."pic.twitter.com/r64X46VBOJ
— Disclose.tv (@disclosetv) August 5, 2024
NBC News reported on Monday morning, "Dow drops 900 points, Nasdaq craters 4% in global market rout."
"U.S. stocks fell sharply on Monday as part of a global market sell-off centered around U.S. recession fears. Japan’s Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash for Wall Street.
The Dow Jones Industrial Average dropped 926 points, or 2.3%. The Nasdaq Composite lost 3.9%, and the S&P 500 slid 3%. The blue-chip Dow earlier fell as much as 1200 points before a slight bounce back on a better-than-expected services PCI reading for July.
Fears of a U.S. recession were the main culprit for the global market meltdown after Friday’s disappointing July jobs report. Investors are also concerned that the Federal Reserve is behind in cutting interest rates to bolster an economic slowdown, with the central bank choosing instead to keep rates at the highest in two decades last week."
The article continued, "Investors are continuing to sell off megacap tech stocks and the once-hot artificial intelligence trade. Tech shares were among the worst performers Monday:
Nvidia tumbled more than 5% Monday after going into the session already down more than 23% from its recent high.
Apple cratered nearly 4.6% after Warren Buffett’s Berkshire Hathaway cut its stake in the iPhone-maker in half.
Other losers included Tesla, down 10%, and Broadcom and Super Micro Computer down 7% and 12%, respectively.
In Asia overnight, Japan stocks confirmed a bear market as Asia-Pacific investors had their first chance to react to the sour jobs figures in the U.S. from Friday. The 12.4% loss on the Nikkei — which closed at 31,458.42 — was the worst day for the index since the “Black Monday” of 1987 hit Wall Street. The loss of 4,451.28 points on the index was also the largest in terms of points in its entire history. The Dow lost more than 22% in a single day on Black Monday.
Other global markets were also severely impacted:
U.S. Treasury yields tumbled on the recession fears and as investors flooded into bonds for a global safe haven. Bond prices move inversely to yields. The benchmark 10-year note on Monday yielded 3.7%.
Bitcoin tumbled from nearly $62,000 Friday to around $52,000 on Monday.
Europe’s Stoxx 600 was off by 3%.
The CBOE Volatility Index was last trading at 46, after reaching as high as 53, its highest level since the early days of the pandemic in 2020."
Watcher Guru reported:
The following trading platforms are reportedly down:
• Charles Schwab
• TD Ameritrade
• Vanguard
• E-Trade
• Fidelity
JUST IN: The following trading platforms are reportedly down:
— Watcher.Guru (@WatcherGuru) August 5, 2024
• Charles Schwab
• TD Ameritrade
• Vanguard
• E-Trade
• Fidelity
The trading app Robinhood halted 24-hour trading due to huge market volatility. They suspended all 24-hour trades until further notice.
President Trump released a series of Truths slamming the "Kamala Crash".
Trump wrote, "TRUMP CASH vs. KAMALA CRASH!"
"VOTERS HAVE A CHOICE — TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024, NOT TO MENTION THE PROBABILITY OF WORLD WAR lll IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE. REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!"
"Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!"
"Japan down 12%, India down 6%. Germany way down also. U.S. really bad. This is a preview of the world markets without Donald J. Trump in the White House. None of this happens if Trump is in. Kamala and the markets don’t go together. She’ll destroy the markets. She’s in power now and look at what is happening. One week of the fake media saying better polls and you get a market crash.” The Legendary Howard Lutnick!"
