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US investors triggered a major selloff on Wall Street on Thursday (August 1) amid fears of a recession. Two of the biggest US stock market indexes—the Dow Jones and S&P 500—dropped by 1.2% and 1.3%, respectively. Distress in the job market, slow manufacturing, and a declining stock market led to this significant selloff. According to data, an increasing number of Americans are opting for unemployment benefits. Also, fewer jobs are being created as compared to before. There is even a slowdown in the manufacturing sector, which has led to hiring freezes in several factories and companies. High interest rates could be one of the major reasons behind the manufacturing slowdown. As a result, investors are shifting their focus from stocks to bonds. These trends hint at the possibility of a recession. Palki Sharma tells you more.

US Recession Fears Trigger Major Wall Street Sell-off

https://media.nw18.com/media-assets/wbx6pq/bbf662c2-f96e-41ee-b87e-26b8f437eed2/08-2024/5-2024/xqFrlZYaHu-QFMgnavDTtREEL-VANTAGE-WALL-STREET-VETTEDmp4-OI9ZEF0xLA/1080highp-h264.mp4

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