$2.9 Trillion Wiped Out from US Stocks Amid Recession Fears

Aug 2, 2024, 03:45 PM

Over $2.9 trillion has been wiped out from major indices and the US stock market this morning due to growing fears of a global recession. This marks the worst day for stocks since March 16, 2020, during the COVID-19 pandemic fears. The significant drop reflects heightened investor anxiety about the economic outlook.