US Stock Market Plummets Amid Recession Fears | Vantage with Palki Sharma

US Stock Market Plummets Amid Recession Fears | Vantage with Palki Sharma

The US stock market witnessed a major sell-off on August 2. Investors went on to sell their stocks, especially the tech stocks, as reports suggested a recession in the American economy. The tech-heavy Nasdaq’s index dropped by 2.3%. Intel's layoffs and Amazon's quarterly results further fuelled the selloff. Some broad economic trends indicate a slowdown in the US' manufacturing sector. As a result, there is a slump in job creation. Two of the biggest US stock market indexes—the Dow Jones and S&P 500—fell over a percent. There is a sharp increase in weekly applications for employment benefits, signaling a lack of jobs in the market. The interest rates are also high, leading to investors moving away from the stock markets. They are now gravitating towards treasuries. The recent attacks in West Asia, in which leaders of Hamas and Hezbollah were targeted, could also be a factor behind investors' cautious approach. Palki Sharma tells you more.

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USA | Wall Street | Stock Market | Nasdaq | Dow Jones | S&P 500 | Recession | Firstpost | World News | News Live | Vantage | Palki Sharma | News

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Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.

The show is anchored by Palki Sharma, Managing Editor, Firstpost.

By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.

Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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