Just Another Manic Monday? On Monday, the Nasdaq plunged over 3%. With the S&P 500 dropping a similar amount and the Dow plummeting over 1,000 points (a 2.6% drop), it was the biggest one-day drop since September 2022. Still, Japan’s Nikkei experienced a far more severe decline, plummeting by a staggering 12%; its worst downfall since the infamous Black Monday on Wall Street in 1987. The main driver? Fears of a potential US recession sparked by the latest disappointing July jobs report. Adding to the worry is that the Federal Reserve may be a little too slow to cut interest rates. Tech Rebound or Stock Market Mayhem? The Magnificent Seven’s $714 wipeout Monday played a huge role in sinking the tech-heavy Nasdaq as it makes up over 40% of the Nasdaq 100. Adding to the chaos, a judge ruled against Google’s antitrust practices, and Berkshire Hathaway slashed its stake in…
