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The S&P dropped 2% on Thursday and 1.9% on Friday and 2.9% on Monday. Initial jobless claims report was Thursday, and the employment report plus unemployment da
by blackeyeblitzar 2y ago
The S&P dropped 2% on Thursday and 1.9% on Friday and 2.9% on Monday. Initial jobless claims report was Thursday, and the employment report plus unemployment data was Friday. Monday was a continuation of fears around the US economy because the US trading day started with Chicago’s fed reserve president saying that the jobs report was bad but that they are not going to react, at a time when many were calling for them to take emergency action. I agree that there are other factors like unwinding carry trades and global conflicts, but most news articles seem to say Monday’s drop was due to fears of a US recession.
- ianburrell 2y agoThe S&P 500 dropped 5% overnight between Friday and Monday, starting on Sunday night when Japan made their announcement. It went up on Monday from the bottom which is why the daily percentage is smaller. It has bounced most of the way back. Which is what you would expect from flash crash.