US Stock Market Plummets Amid Recession Fears | Vantage with Palki Sharma
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Published 2024-08-02
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
#usa #recession #wallstreet #nasdaq #s&p500 #dowjones #firstpost #vantageonfirstpost #palkisharma #worldnews
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.
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All Comments (21)
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Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
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ZERO debt. Good emergency fund. 2 homes paid off. WELL over 250k invested over the last decade. Recently added some semiconductor and consumer staple and other misc ETFs such as materials (basically 20%), with individual stocks for growth and dividend, gold as a hedge, as well as starting to put money aside to buy (more of) the dip. It's been a long road to get here ... and by here I mean family man (3 kids with education paid) multi millionaire next door (hopefully by next year at 55 years of age)! I started with nothing but student loan debt. Let compound interest work for you, not against. Get out of debt and stay out of debt!
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Sister Palki jee - I am a british pakistani who lives in the UK. I always watch your programmes - first on the other channel and now here (we moved with you). You are very honest, concise and clear. You are the only one who speaks the truth and reports on things which the rest of the world covers up. Keep up the excellent work sister Palki Jee!!!
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As we witness the current economic landscape, it's becoming increasingly clear that we're entering a recession. These times can pose significant financial challenges.
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"Recession fears" We are already swimming in the recession.
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You are so consistent with your videos! I very much appreciate your genuine content. It’s a testament to the character you represent. Aldona Sabaniene at being a great teacher and human being! I know that I have learned so much from you in the last few months. You helped me ask & answer a very important question..."What are your crypto convictions?" This question alone really has provided a healthy foundation to build off of. I've been in crypto for almost 4 years...and I have found so much value in your content. Thank You...
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Palki, you are amazing. I’m flabbergasted that no other news journalists have imitated your style! Keep it up, girl! 🥰
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Palki sharma reporting is absolutely amazing .
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I am working in India for Nexteer Ltd, in US my boss took retirement benefit quit the job. many are took like this and this week 03/08/2024 company itself fired 200+ people in US
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What I don’t understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox?
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Not only America but also Canada and some European countries as welll😢😢😢
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Interest rates have been too high for too long, this is hurting everyone
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there is already a silent recession already
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NO, U.S is already are in Recession. It is now Heading towards Depression 😂
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Here for one and only Indias top journalist Palki Sharma ❤
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😂The US is in recession. Its hilarious that almost all western economies are in recession but western media never talks about it. All they do is claim China's economy is in crisis yet China's economy is growing over 5%. 😂
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Recession 😂😂😂😂 We’ve been in a DEPRESSION for 3 years
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They trying to pressure other countries tried in that process they lost their own ground !
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AI and the like. That’s the reason. If companies will focus on profits and throw everyone out of jobs, then who will earn and who will pay taxes?!
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EXCELLENT . AMERICA IS SURVIVING ON HOT AIR .
