Good afternoon, The market is tumbling on the compounded effect of cooling inflation and reinvigorated recession fear.
The July CPI report set the market into motion, leading it to believe that interest rate cuts are coming. This sparked a sector rotation that is evolving into a major stock market meltdown, which is caused by the fear of recession sparked by the July NFP report.
The NFP report wasn’t bad per se but weaker than expected, suggesting the FOMC has waited too long to cut interest rates.
That’s why recession fears are back.
Click here to learn more about the market's tumble and the new recession fears that come with it:
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