The Global Financial Market Implodes As Fear Of Black Friday 2 Spread (8/5/24)

The Epstein Chronicles

The Nikkei 225 index experienced a significant crash on August 5, 2024, closing 12.4% lower, marking its worst decline since the 1987 crash. This steep drop was largely triggered by the Bank of Japan's unexpected interest rate hike on July 31, which reversed the gains made by the index earlier in the year. The crash also reflected broader market jitters over a potential US recession and ongoing geopolitical tensions.
Currently, Wall Street is also facing a major downturn, with significant losses attributed to fears of a looming recession and volatility in the tech sector, particularly around AI-related stocks. The market rout, which began in Asia, intensified in the US, with major indices like the S&P 500 and Nasdaq suffering substantial declines. This selloff has been exacerbated by global economic uncertainties and rising interest rates​.
With all of this in mind, there are fears that a new "Black Monday" might be upon us.
Black Monday refers to October 19, 1987, when global stock markets experienced a massive crash. The Dow Jones Industrial Average (DJIA) plummeted by 22.6% in a single day, marking the largest one-day percentage decline in its history. The crash was triggered by a combination of factors, including automated trading systems, overvaluation of stocks, and market psychology. This event led to significant changes in market regulations and the implementation of mechanisms like trading curbs to prevent future occurrences.
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