US stocks tumble as part of global market sell-off

Category: Finance

Stock futures dropped significantly due to U.S. recession fears, with major indices like the Dow Jones and Nasdaq experiencing substantial declines. A weak jobs report and declining manufacturing activity have raised concerns, triggering the Sahm Rule, a recession indicator. The jobless rate's unexpected rise has led to revised Fed rate projections for 2024, while Japanese stocks also faced sharp losses.

Keywords: Stock Market, Recession, Jobless Rate

Source: Fox Business

Update At: 8/5/2024

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