Today, the S&P 500 dropped 3%, its biggest one-day fall since September 2022. Globally, markets have been in turmoil since the end of last week.
So, what’s unfolding? And what do you need to know?
In the video I detail what you need to know and what history shows us for reference.
Moving forward this week, a key indicator to watch will be the initial jobless claims that the U.S. Department of Labor is scheduled to release on Thursday. Currently, the consensus among economists is that the figure will come in at 240 thousand jobless claims. If we see that number surprise the estimates at 250 thousand levels or higher, expect the financial markets to not take kindly to the news and respond negatively.
Finally, while the conversation pre-dates today’s news, my interview linked here with Steven Budgen on the Achieving Alpha Podcast details what control levers the Fed does and does not have, while also outlining several actionable takeaways investors could consider.
P.S. For Premium readers, be sure to check out the Nomi Note I sent this morning!
Here’s What History Shows Us About Market Meltdowns