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☆ Global stock markets are sliding and investors are holding on to their hats. Here's why.
▼ + stars: | 2024-08-05 | by ( Will Martin | ) www.businessinsider.com time to read: +3 min

Stock markets worldwide are on the slide, with Japan's Nikkei falling more than 12% on Monday. Worse than-expected jobs data in the US last week fuelled recession fears and drove the sell-off. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Fears of a recession in the US jumped after significantly weaker-than-expected July jobs numbers on Friday, which also saw jobs numbers for June revised lower. It's hard to believe such market moves would have occurred in any other month."

Persons: Jim Reid, —, Michael Brown, Pepperstone, Reid, payrolls, Beryl, It's, we're Organizations: Japan's Nikkei, Deutsche Bank ., Service, Nikkei, Deutsche Bank, Federal, Fed, Reuters, of Japan Locations: America, Japan, Tokyo

☆ Yen rises to 7-month highs as U.S. slowdown fears carry over
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +1 min

Japanese yen and U.S. dollar on display in Yichang, Hubei province, Nov 13, 2023. The selling continued on Monday, with U.S. Treasury yields falling further, stock indexes in the red and currencies slightly less volatile but down against the dollar and yen. The safe-haven and carry-funding favorite, the yen, was traded at 145.43 yen , up 0.8% versus the dollar, after hitting a mid-January peak of 145.28 in early deals. The euro was flat at $1.091, the dollar index was nearly flat too at 103.17 while the Australian dollar fetched $0.6495 and was down 0.25%. "The U.S. economy is showing signs of slowdown but it's not as bad as the market is pricing in."

Persons: Masafumi Yamamoto Organizations: U.S, Fed, Treasury, Mizuho Securities Locations: Yichang, Hubei province, Asia, Tokyo, U.S

☆ Investors are unwinding the biggest ‘carry trade’ the world has ever seen, SocGen strategist says
▼ + stars: | 2024-08-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

Carry trades refer to operations wherein an investor borrows in a currency with low interest rates, such as the Japanese yen, and reinvests the proceeds in higher-yielding assets elsewhere. "You can't unwind the biggest carry trade the world has ever seen without breaking a few heads. A change in Japanese monetary policy prompted one strategist to warn of the "implosion" of the yen carry trade over a short-term basis. watch nowEd Rogers of Rogers Investment Advisors said the yen carry trade isn't dead yet, despite the deepening stock market sell-off. "Certainly there is going to be some momentary panic, I think, about the yen carry trade.

Persons: Richard A, Brooks, Kit Juckes, Juckes, Russell Napier, Ed Rogers, Rogers, CNBC's Organizations: Tokyo Stock Exchange, Afp, Getty, Swiss, Societe Generale, U.S, Bank of Japan, Rogers Investment Advisors Locations: Tokyo, London

☆ Nikkei 225: Japan stocks rebound sharply after worst rout in history as other Asia markets also rally
▼ + stars: | 2024-08-05 | by ( Laura He | Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Japanese shares soared in early trading on Tuesday, clawing back most of their record losses from the previous day and underpinning a regional rally. The Nikkei 225 last traded about 10% higher, while South Korea’s Kospi rebounded by about 3%. They all suffered major losses during the previous trading session. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. Losses like that led the Nikkei to close 12.4% lower on Monday in its largest one-day fall since October 1987.

Persons: clawing, Kospi, ” Neil Newman Organizations: Hong Kong CNN, Nikkei, Advisory, CNN, Kikkoman, Nasdaq, Bank of Japan Locations: Hong Kong, South, Taiwan, Japan, Tokyo

☆ Investors want the Fed to save the market, but an emergency cut could make things worse
▼ + stars: | 2024-08-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Monday's global stock market sell-off led to calls for the Federal Reserve to step in , but that could prove to be even more trouble for investors. This sell-off is not being driven banking crisis, and an emergency rate cut by the Fed may hurt more than it helps, said Lawrence McDonald, a bestselling author and market risk expert. "If they do that, they weaken the dollar, they actually strengthen the yen, and this whole carry trade gets worse," McDonald said. The " carry trade " mentioned by McDonald and others as a key reason for this sell-off is related to interest rates in Japan. Central banks in the United States and other developed markets have hiked interest rates aggressively in the post-pandemic period to fight inflation.

Persons: Lawrence McDonald, McDonald, Lehman Organizations: Federal Reserve, Bank of Japan, U.S, Fed, Lehman Brothers Locations: Japan, Central, United States

☆ The global 'carry trade' is unwinding. Here's why it's a brutal force crushing stocks worldwide.
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The unwind of the global yen "carry trade" is a force battering stocks. AdvertisementStocks plunged on Monday, and market pros say a lot of it has to do with the global unwind of the yen "carry trade." The carry trade refers to investors borrowing money at near-zero interest rates in Japan, and then redeploying that cash into higher-yielding assets around the world, such as stocks and bonds. "The selloff here is to a large extent attributable to the unwind of the so-called carry trade," Ed Yardeni told Yahoo Finance on Monday. AdvertisementThe unwind in the yen carry trade will go down as the biggest ever, according to a Monday note from Societe Generale.

Persons: —, Stocks, Ed Yardeni, that's, Yardeni, That's, Kit Juckes, Warren Buffett's, Juckes, It's Organizations: Service, Yahoo Finance, Bank of Japan, Federal, Bank of, Federal Reserve, Societe Generale Locations: Japan, Bank of Japan

☆ S&P 500 futures bounce after index posts worst day in nearly two years: Live updates
▼ + stars: | 2024-08-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

S&P 500 futures bounced in overnight trading after the broad index notched its worst day in nearly two years as global markets sold off. Futures tied to the S&P 500 rose 0.9%, while Nasdaq 100 futures rallied 1.2%. The 30-stock Dow dropped 1,033.99 points, or 2.6%, while the S&P 500 slid 3%. These fears spilled over into global markets, with Japan's Nikkei 225 index registering its worst daily decline since Black Monday in 1987. The Dow, S&P 500 and Nasdaq are down 5%, 6% and 8% respectively in three days, their worst 3-day performance in more than two years.

Persons: Dow, Quincy Krosby, LPL, Tesla, It's, Keith Lerner, Truist's Organizations: New York Stock Exchange, Futures, Nasdaq, Dow Jones Industrial, Federal Reserve, Japan's Nikkei, Treasury, Bank of Japan, Nvidia, Apple, VanEck Semiconductor, Traders, Palantir Technologies, Lucid Group Locations: New York City

☆ UBS says 'going into Japan now is like catching a falling knife,' warns stock sell-off will continue
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

watch nowGoing into the Japanese market at this moment is akin to catching "a falling knife," Kelvin Tay, regional chief investment officer at UBS Global Wealth Management, told CNBC's "Squawk Box Asia." Stock Chart Icon Stock chart icon"The only reason why the Japanese market is up so strongly in the last two years is because the Japanese yen has been very, very weak. It strengthened sharply after the BOJ raised its benchmark interest rate last week to around 0.25% and decided to trim its purchases of Japanese government bonds. A stronger yen pressurizes Japanese stock markets, which are heavily dominated by trading houses and export-oriented firms by eroding their competitiveness. Ueda also said the 0.5% interest rate level — Japan has not seen that since 2008 — was not a barrier, and rates could go even higher.

Persons: Kelvin Tay, CNBC's, Tay, Kazuo Ueda, Ueda, — Organizations: UBS Global Wealth Management, Nikkei, U.S, Bank of, Reuters Locations: Japan

☆ Dow crashes 1,000 points and the Nasdaq loses 3% as recession fears fuel market panic
▼ + stars: | 2024-08-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks plunged Monday amid recession fears and the yen carry trade unwind. AdvertisementUS stocks plunged on Monday as investors worried about a potential recession and the knock-on effects from the unwind of the yen carry trade. All of those factors have drummed up fears that a recession could be imminent, especially given that the Federal Reserve could be "behind the curve" in its failure to cut interest rates last month. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Monday:Some believe the Fed should implement an emergency interest rate cut, including Wharton professor Jeremy Siegel. AdvertisementBut perhaps the biggest driver of Monday's stock market decline was the unwind of the yen carry trade.

Persons: Dow Jones, —, payrolls, Warren, Berkshire Hathaway, Jeremy Siegel, Siegel, LPL, Ed Yardeni Organizations: Nasdaq, Bank of, Service, Dow Jones, Apple, Amazon, Intel, Federal, Here's, Bank of Japan, Yahoo Finance Locations: Japan

☆ The yen is 'just getting normal,' portfolio manager says
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe yen is 'just getting normal,' portfolio manager saysRichard Kaye, portfolio manager at Comgest, addresses talk of a strengthening Japanese yen, saying that the currency is in fact "normalizing."

Persons: Richard Kaye

☆ AI won't kill your computer science degree, professors say
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewGetting a computer science degree used to be a stable path for any college student looking to secure a tech job right after graduation. And if that wasn't enough, computer science majors don't just have to compete amongst themselves, they need to watch out for AI too. Computer science professors that BI spoke to said that earning a degree in the field is just as, if not more, valuable in the age of AI. Related storiesThis, Kan said, is because computer science isn't so much about coding as it is an approach to solving problems. AdvertisementDavid Malan, a computer science professor at Harvard, told BI that AI won't displace software engineers in the near term and would instead amplify their productivity.

Persons: —, Aditya Swami, Hatcher, Kan Min Yen, Kan, David Malan, Malan, Adrian Goh Organizations: Service, Big Tech, Business, National University of Singapore, Harvard, Engineers, Software Locations: Asia

☆ Ron Insana: Fed should reassure market it's ready to act, as this resembles late '90s foreign markets crises
▼ + stars: | 2024-08-05 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

First, when everything is being sold – and just about everything is being sold on Monday – someone is in big trouble. The spillover effect – exacerbated by a Federal Reserve reluctant to cut interest rates even as inflation cools – has put all assets on sale. This suggests that fears of a financial market problem are greater than those of a widening Middle East war. Should the situation become more tumultuous, the Fed could be forced into cutting interest rates between meetings. Indeed, when the Fed responded to the 1998 event by cutting interest rates , stocks went on a tear before topping out in 2000.

Persons: I've, Michael Gayed, Cashin, It's, Stanley Druckenmiller, Japan —, Ron Insana Organizations: Federal Reserve, Nikkei, UBS, Term Capital Management, CNBC Locations: Japan, Israel, Iran

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

☆ Our bend-don't-break economy is reaching its limit
▼ + stars: | 2024-08-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, interest-rate cuts are almost certainly coming, but the relief won't be felt immediately . The big storyCrash landingKevin Dietsch/Getty, Tyler Le/BIOur bend-don't-break economy might finally have reached its limit. After a year of resiliency in the face of high interest rates, the cracks are showing in the US economy. But it's not a silver bullet, and the rate cut's effect will take time to make its way through the economy.

Persons: —, Kevin Dietsch, Tyler Le, it's, Chelsea Jia Feng, Claudia Sahm, Madison Hoff, McDonald's, Jared Siskin, Bobby, Jordan Grumet, Justin Best, Brian Stauffer, Michal Kosinski, Rob Price, sompong, Seng kui Lim, Getty, Joe Biden's, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Relief, Getty, Fed, Amazon, Big Tech, Madison, Park Conservancy, Citadel, FIRE, Union Square Advisors, Nvidia, America Locations: resiliency, Central, Switzerland, Canada, Park, Paris, New York, London

☆ Japanese market plunge driven by position unwinding around yen trade, says Bleakley's Boockvar
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapanese market plunge driven by position unwinding around yen trade, says Bleakley's BoockvarPeter Boockvar, chief investment officer at Bleakley Financial Group, joins CNBC's 'The Exchange' to discuss the latest markets moves in Japan.

Persons: Bleakley's, Peter Boockvar Organizations: Bleakley Financial Locations: Japan

☆ Here are all the reasons why Monday's major market wreck is happening
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2024, in New York City. "The market got a little bit ahead of itself in that run-up that it's had. Soon, traders began pricing in aggressive Fed rate cuts after expecting the central bank to do little the rest of the year. "This is the confluence of a very high market that has been soaring and riding on a lot of sentiment and emotion. For several months now, the momentum trade has been the successful trade," said Michael Farr, CEO of Farr, Miller & Washington.

Persons: Spencer Platt, Robert Teeter, it's, John Belton, —, Kamala Harris, Republican Donald Trump, Michael Farr, Farr Organizations: New York Stock Exchange, Getty, Federal Reserve, Silvercrest Asset Management, Dow Jones, Labor Department, Gabelli, Bank of Japan, Nvidia, Democratic, Republican, Miller & Washington Locations: New York City, cumulatively, Ukraine, U.S

Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.

Persons: clawing, Kospi, ” Neil Newman, ”, “, Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea

☆ Going back to Japanese stocks right now is like catching a falling knife: CIO
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoing back to Japanese stocks right now is like catching a falling knife: CIOKelvin Tay from UBS Global Wealth Management argues that the weak Yen is the key driver to Japan's stock market rally the past 2 years. He expects the Yen to strength to 143 against the US dollar which means the selling pressure on Japanese stocks isn't over yet.

Persons: Kelvin Tay Organizations: UBS Global Wealth Management

☆ Nikkei 225 falls more than 5%, hovering near bear market territory, as Asia-Pacific sell-off continues
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan's markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Stock Chart Icon Stock chart iconMonday's decline follows Friday's rout when Japan's Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Reserve Bank of Australia kicks off its two-day monetary policy meeting Monday.

Persons: Topix, Australia's, Kospi Organizations: Bloomberg, Getty, Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, P, Reserve Bank of Australia, Reuters Locations: Shibuya, Tokyo, Japan, Asia, Pacific, China, Taiwan, Australia, India, Hong Kong

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

The epicenter is Japan," Jim said during the Club's Morning Meeting. However, significant changes in the currencies can "force you to unwind the trade," Jim explained. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we'll, Jim, Wells Fargo, we're, It's, Morgan Stanley, Stanley Black, Jim Cramer's, DOV Organizations: CNBC, Overseas, Nikkei, U.S ., U.S, Nextracker, Microsoft, Treasury, Energy, Uber Technologies, Caterpillar, Super Micro, Corp, NXT Locations: Japan, U.S, Dover, DuPont, Wells

☆ Stifel strategist who called this summer pullback sees correction getting to at least double digits
▼ + stars: | 2024-08-05 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Stifel Financial's Barry Bannister thinks the S & P 500 will see a steep pullback over the next couple of months. Bannister said Stifel's year-end target of 5,000 for the S & P 500 "seems appropriate right now" given the July jobs data and delayed Federal Reserve interest rate cuts. In early June, Bannister said the S & P 500 could drop to approximately 4,750 before the end of the third quarter of this year. The S & P 500 ended last week at 5,346.56. .SPX YTD mountain S & P 500 this year.

Persons: Stifel Financial's Barry Bannister, Bannister, Stifel's, Stifel, we've Organizations: CNBC, Traders

☆ FedWatch Founder Ben Emons talks the Japanese Yen carry trade
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFedWatch Founder Ben Emons talks the Japanese Yen carry tradeBen Emons, Fedwatch Advisors, joins 'Fast Money' to talk the Yen carry trade and how pressure on the U.S. economy impacted the Japanese markets.

Persons: Ben Emons Organizations: Fedwatch Advisors Locations: U.S

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

☆ Why Wells Fargo is the most attractive bank stock as the sell-off continues
▼ + stars: | 2024-08-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Warren Buffett's Berkshire Hathaway, Buffett, Jim, We're, Wells, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Big Tech, Apple Locations: Wells Fargo, Wells

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