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☆ Trump is weaponizing the stock downturn to attack Kamala Harris
▼ + stars: | 2024-08-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +1 min

Trump is blaming Kamala Harris for Monday's stock market downturn. But he's previously sought to claim credit for a stock market rally under Biden. Go to newsletter preferences Thanks for signing up! AdvertisementAs global stock markets were rocked by a steep sell-off Monday, former President Donald Trump is using the downtown as the latest line of attack against his new Democratic rival, Vice President Kamala Harris. "Of course there is a massive market downturn," Trump wrote on Truth Social on Monday morning as part of a series of posts attacking Harris.

Persons: Trump, Kamala Harris, he's, —, Donald Trump, Harris, KAMALA Organizations: Biden, Service, Democratic, Business Locations: San Francisco and California

☆ Bitcoin tumbles as risk assets plunge in global market rout
▼ + stars: | 2024-08-05 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Bitcoin dropped on Monday amid the global market meltdown. Crypto has not been spared the carnage as traders eye a growing risk of a US recession. The sell-off in crypto comes as risk assets plunge in a global market rout caused by worries over the state of the US economy. Some market observers have said that the historic market rout could prompt an emergency rate cut from the central bank in the next week. Japan's Nikkei 225 index dropped 12% early Monday in its worst single-day decline since 1987, and markets in South Korea and Europe also plunged.

Persons: Bitcoin, Crypto, —, Gracy Chen Organizations: Service, Federal Reserve, Fed, Japan's Nikkei, Bank of America Locations: South Korea, Europe

☆ Cries are getting louder for emergency interest-rate cuts this week, something that's been reserved for pandemics or terrorist attacks
▼ + stars: | 2024-08-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +1 min

Some have called for emergency interest rate cuts this week as a result. The Federal Reserve has only cut rates off-cycle in extreme emergencies, like 9/11 and COVID-19. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Investors are panicking, and they're calling for the nation's central bank to cut interest rates over a month before the Fed's next meeting.

Persons: — Organizations: Federal Reserve, Service, Investors, of Labor Statistics, Business

☆ 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

☆ VIDEO: What to do when the stock market crashes: Advice on retirement savings and investment portfolio
▼ + stars: | 2024-08-05 | by ( Demetrius Pipkin | ) edition.cnn.com time to read: 1 min

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☆ Everyone is talking about the Sahm recession indicator. Here’s what you need to know
▼ + stars: | 2024-08-05 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +4 min

A weaker-than-expected July jobs report on Friday officially triggered the Sahm rule. "We are not in a recession now — contrary the historical signal from the Sahm rule — but the momentum is in that direction," Sahm told CNBC by email on Friday. That frankly is not good enough, we can do better than avoiding a recession," Sahm told CNBC's "The Exchange." Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. In mid-June, Sahm told CNBC that the U.S. central bank risked tipping the economy into contraction by not cutting interest rates sooner.

Persons: Claudia Sahm, Sahm, —, we're, CNBC's, Dario Perkins, Perkins, Jerome Powell, William McChesney Martin Jr, Andrew Harnik Organizations: Federal, CNBC, U.S . Federal, New Century Advisors, New, Lombard, National Bureau of Economic Research, Federal Reserve, Getty, U.S Locations: U.S, Washington , DC

☆ Major European markets head for flat to lower open amid global volatility
▼ + stars: | 2024-08-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Stock market numbers are displayed on a screen at the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. LONDON — European stocks are expected to start the new trading week in flat to negative territory as global volatility continues. The U.K.'s FTSE index is seen opening 3 points higher at 8,165 while Germany's DAX is expected to open 59 points lower at 17,591, France's CAC 40 down 17 points at 7,219 and Italy's FTSE MIB down 139 points at 32,009, according to data from IG. The subdued start for major European markets comes amid wider global volatility; U.S. stock futures fell Sunday night following a turbulent last week for Wall Street, in which the Nasdaq Composite dropped into correction territory. Asia-Pacific markets also continued the selloff overnight.

Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, CAC, IG, Wall, Nasdaq Locations: New York City, Asia, Pacific

☆ The Next Month in the Economy Could Be Crucial for the Presidential Election
▼ + stars: | 2024-08-05 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

It didn’t take long for former President Donald J. Trump to make a political weapon out of Monday’s market sell-off. “This is not good.”The post underscored Mr. Trump’s longstanding fixation on stock indexes as a barometer of economic health. It also reinforced the degree to which economic messaging — and the health of the economy itself — will play a key role in the sprint finish ahead of the presidential vote in November. American voters consistently tell pollsters that the economy and consumer prices are the most important issues facing the country. Mr. Trump wants voters to believe the economy is on the brink of catastrophe, and that Ms. Harris and President Biden are to blame.

Persons: Donald J, Trump, ” Mr, pollsters, Kamala Harris, Harris, Biden Organizations: “ Stock, Democratic

☆ 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

☆ Why the stock market is freaking out, but you shouldn’t
▼ + stars: | 2024-08-05 | by ( Lacey Russell | ) edition.cnn.com time to read: 1 min

☆ Why the stock market is freaking out again
▼ + stars: | 2024-08-05 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

The Dow tumbled more than 1,000 points at the open, and the broader market plunged 3% Monday. The Nasdaq, full of risky tech stocks, dropped 3.7%. Although that’s not in and of itself an unhealthy unemployment rate, its sudden march higher is alarming: Last year, the unemployment rate was at its lowest level since the moon landing. Traders are beginning to unwind big trades on Apple, Nvidia, Microsoft, Meta, Amazon, Alphabet and other tech stocks that had been surging since the beginning of last year. Monday’s rout, if it ends at current levels, wouldn’t even crack the top 100 worst days in market history.

Persons: Dow, that’s, Goldman Sachs, That’s, Jeremy Siegel, “, ”, Siegel, Stocks, it’ll, Warren Buffett, Berkshire Hathaway Organizations: CNN, Nasdaq, Nikkei, Federal Reserve, of Labor Statistics, Citigroup, JPMorgan, CNBC, Traders, Apple, Nvidia, Microsoft, Meta, Berkshire Locations: Wall

☆ Using a 'bear put spread' to hedge against further market declines
▼ + stars: | 2024-08-05 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

The S & P 500 5,350 puts I discussed are trading nearly $170 as I write this, up ~ $12,000 per contract. This is even though the S & P 500 is down only 2.3% since I wrote that article over a month ago. One could roll those options down and out to the September 5200/4500 S & P 500 put spread which costs about $100. If you didn't read the earlier article, here are the components of a long put spread, sometimes referred to as a "Bear Put Spread." In periods of high implied volatility, option premiums are generally higher because the market anticipates larger price movements.

Persons: It's, Joe Biden, Kamala Harris, it's, Trump Organizations: Starbucks, CNBC, NBC UNIVERSAL, ~ $, & $ $

☆ The Fed is trying to 'fight a ghost' as recession fears mount, investor says
▼ + stars: | 2024-08-05 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

LONDON — As a global market sell off continues amid fears of a looming U.S. recession, the Federal Reserve may have little room for manoeuvre, investor Cole Smead warned Monday. "The Fed is trying to fight a ghost in some respects. But it's a fiscal problem, and that fiscal problem's not ending," he said. The CBOE Volatility Index, also know as the "VIX" — a measure of expected market volatility — jumped to 41.65, according to LSEG data, hitting its highest level since October 2020, as risk fears returned to the market. "Whoever comes in, be it Kamala Harris or Donald Trump, there's going to be an interest in trying to prop up anything," he said.

Persons: Jerome Powell, William McChesney Martin, Cole Smead, Smead, CNBC's, Jay Powell, Kamala Harris, Donald Trump Organizations: Federal Reserves, Washington , D.C, LONDON, Federal, Smead Capital Management, CNBC, Reuters Locations: Washington ,, U.S, Europe, Asia

☆ Apple shares drop 7% after Warren Buffett's Berkshire Hathaway slashes stake by half
▼ + stars: | 2024-08-05 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024. Warren Buffett sent shockwaves through the investing world over the weekend by slashing his big Apple stake by half, causing the tech stock to crater on Monday amid the intensifying global sell-off. Berkshire Hathaway disclosed in its earnings filing that its Apple holding was valued at $84.2 billion at the end of the second quarter, indicating that the Oracle of Omaha dumped a little more than 49% of the tech stake. Global stock markets are on the brink of a major correction, triggered by concerns of an economic slowdown. Buffett also started selling his second biggest holding Bank of America in July.

Persons: Warren Buffett, shockwaves, Berkshire Hathaway, Buffett Organizations: Berkshire, Apple, Oracle, Global, of America Locations: Omaha , Nebraska, Omaha

☆ 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

☆ 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

☆ Why the Fed almost certainly isn’t going to do an emergency rate cut
▼ + stars: | 2024-08-05 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Investors are increasingly hopeful that will push Federal Reserve officials to come to their rescue with an emergency rate cut. But if something comes up in between those meetings that changes their views on the ideal level for rates, officials can gather for an unscheduled “emergency” meeting. By doing two large emergency cuts in succession, Fed officials didn’t have to weigh whether their actions would unnecessarily cause Americans to panic. Before those cuts, the last time the Fed was promoted to do an emergency rate cut was in the thick of the Great Recession shortly after Lehman Brothers collapsed in the fall of 2008. But he said he was “reluctantly” comfortable with an emergency cut since other central banks were doing it.

Persons: Austan Goolsbee, there’s, Lehman Brothers, ” Charles Plosser, “, ”, That’s, Janet Yellen, ” Yellen, Plosser Organizations: New, New York CNN, Federal, Chicago Fed, New York Times, Philadelphia Fed, Bank of Canada, European Central Bank, Bank of England, San, Committee, Fed, Treasury Locations: New York

☆ Advice: When the Stock Market Drops, Stay Calm and Do Nothing
▼ + stars: | 2024-08-05 | by ( Ron Lieber | More About Ron Lieber | ) www.nytimes.com time to read: 1 min

The markets are in turmoil, but you know what you’re supposed to do now, right? Let’s all take a deep breath, tie our hands behind our backs and say it together: We will not sell stocks in a panic. Many of the people who are trading today are professional investors of various sorts. Here’s a dirty little secret about, say, hedge funds: All of their trading in reaction to world events doesn’t lead most of them to do better than sticking their money in an index fund that tracks the stock market. Remember, much of the money you have in the stock market is probably for retirement anyhow.

Persons: It’s Organizations: Mutual

(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.

Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, —, Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China

☆ 'Don't panic' amid stock market volatility, advisor says. Here's why staying invested pays off
▼ + stars: | 2024-08-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Westend61 | Getty ImagesLoading chart...Panic selling can 'crater your portfolio'Some investors are prone to panic selling during periods of volatility and then often miss the stock market recovery with cash sitting on the sidelines, research shows. "The roller-coaster ride back up happens just as quickly," and missing recovery days "can crater your portfolio," said Baker, who is also a member of CNBC's Financial Advisor Council. To that point, missing the 20 best days in the stock market from Jan. 1, 2003, to Dec. 30, 2022, would have cut your total portfolio returns by more than half, according to J.P. Morgan. Ultimately, staying invested pays off long-term because "it's a loser's game" to try to time the market, Baker said. Your existing cash reserves, for example, can cover emergencies or provide funds to "take advantage of opportunities," he said.

Persons: Baker, Morgan, Douglas Boneparth Organizations: CNBC's, Bone Locations: New York

☆ Here's Jim Cramer's market sell-off playbook
▼ + stars: | 2024-08-05 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

watch nowCNBC's Jim Cramer shared his playbook for the brutal global market sell-off on Monday. Identify what's actually wrongAlthough the global sell-off hit U.S. markets hard, "the epicenter of the damage" was Japan, Cramer said. The sell-off started when Japan's stock market posted its worst drop since the stock market crash of 1987 known as Black Monday. The sell-off is sparked by money managers who think the Federal Reserve should have cut rates last week. Investors can also take advantage of the decline in interest rates and buy stocks that yield more than 4%, Cramer said.

Persons: Jim Cramer, Cramer, Blackwell, Warren Buffett, Berkshire Hathaway, you'd, Banks, Morgan Stanley, haven't, Harris, Biden Organizations: Dow Jones, Nasdaq, Berkshire, Apple Locations: U.S, Japan

☆ 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

☆ Where to generate income and safety during this global asset meltdown
▼ + stars: | 2024-08-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

With the stock market melting down, investors are scrambling for safety and ways to generate income. Treasury yields have also been falling as investors fled to safety, with the 10-year dropping more than 10 basis points earlier in the session. The move down in Treasury yields has Collin Martin, fixed income strategist at Schwab Center for Financial Research, shifting his outlook. "This is really attractive, especially considering that we have seen Treasury yields plunge so much," Martin said. Money needed in 12 months or less should be in a money market, he said.

Persons: Collin Martin, Martin, Barry Glassman, Glassman, Chuck Failla, Failla Organizations: Federal, Treasury, Schwab Center, Financial Research, Investment, Wealth Services, CNBC, Sovereign Financial Group

☆ 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

☆ I am 'prepared to dip my toe into the water and start buying Japan,' Monex Group's Jesper Koll 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 EmailI am 'prepared to dip my toe into the water and start buying Japan,' Monex Group's Jesper Koll saysJesper Koll, head of Japan at Monex Group, discusses investing in Japanese markets amid the ongoing stock market sell-off.

Persons: Group's Jesper Koll, Jesper Koll Organizations: Monex Group Locations: Japan

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