5 August 2024
Global stock markets experienced a significant sell-off, triggered by concerns about a potential slowdown in the U.S. economy and uncertain global monetary policy. The Nasdaq, S&P 500, and Dow Jones Industrial Average all saw substantial declines, with tech stocks particularly hard hit. This market turmoil followed disappointing U.S. jobs data and an unexpected interest rate hike in Japan. Investors are worried that the Federal Reserve may have delayed rate cuts too long, risking a recession. The sell-off has spread across Asian and European markets, reflecting growing anxiety about global economic growth and monetary policy directions.