Reason to Panic? The Global Stock Market Plunge, Explained
Posted on AllSides August 5th, 2024
From The Left
Richard Drew/ AP
ANALYSIS
A global market meltdown continued Monday as the Dow Jones Industrial Average dropped by 1,000 points before recovering slightly on fears the U.S. economy was weakening and a series of other concerns combined to throw investors worldwide into a panic.
What Happened?
The selling began Friday as labor market data for July came in well below expectations with 114,000 jobs added instead of the 175,000 or so that had been forecast. Add in some less than positive earnings news from tech giants Amazon and Intel and the bonhomie that had developed following...
