Stock Market Tumbles After Global Selloff as Investors Panic Over Jobs Report, Economic Indicators
Traders are reportedly betting on an emergency rate cut over the next week.
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Key Takeaways
- The Dow was down over 1,000 points on Monday.
- Investors have been panic-selling tech, oil, and crypto stocks after a global selloff.
- Some traders think an emergency rate cut is imminent.
U.S. Monday as the Dow, the S&P 500, and the Nasdaq were all down at the opening bells due to a global selloff and heightened concerns about the U.S. economy following Friday’s jobs report and other economic indicators.
was down 833 points as of press time, with the S&P 500 dropping 3.1% and the Nasdaq dropping over 3.6%.
Related: Is The Fed Cutting Rates in September? July Meeting News
Japan’s stocks dropped 12% Monday, reportedly the country’s worst day since 1987 during Wall Street’s “Black Monday.”
The panic was brought on by last Friday’s , showing the unemployment rate in the U.S. was 4.1% in June, which economists said should point to a Fed rate cut in September.
Tech stocks have , with Nvidia down 5% and Tesla, down 5.8%.
Investors have been panic-selling tech, oil, and crypto stocks amid the fear. If the NYSE index drops by 7%, it could trigger a halt in trading.
Bloomberg traders are betting an emergency rate cut takes place this or next week, something the Fed rarely does outside of its scheduled meetings.
This is a developing story.
Key Takeaways
- The Dow was down over 1,000 points on Monday.
- Investors have been panic-selling tech, oil, and crypto stocks after a global selloff.
- Some traders think an emergency rate cut is imminent.
U.S. Monday as the Dow, the S&P 500, and the Nasdaq were all down at the opening bells due to a global selloff and heightened concerns about the U.S. economy following Friday’s jobs report and other economic indicators.
was down 833 points as of press time, with the S&P 500 dropping 3.1% and the Nasdaq dropping over 3.6%.
Related: Is The Fed Cutting Rates in September? July Meeting News
Japan’s stocks dropped 12% Monday, reportedly the country’s worst day since 1987 during Wall Street’s “Black Monday.”
The panic was brought on by last Friday’s , showing the unemployment rate in the U.S. was 4.1% in June, which economists said should point to a Fed rate cut in September.
Tech stocks have , with Nvidia down 5% and Tesla, down 5.8%.
Investors have been panic-selling tech, oil, and crypto stocks amid the fear. If the NYSE index drops by 7%, it could trigger a halt in trading.
Bloomberg traders are betting an emergency rate cut takes place this or next week, something the Fed rarely does outside of its scheduled meetings.
This is a developing story.
