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Wall Street Hit by Fears Economy Is in 'Danger Zone'
News August 05, 2024 at 11:03 AM
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What You Need To Know
- Ed Yardeni said today's selloff is like the '87 crash, when the economy averted a downturn despite investor fears at the time.
- While the S&P 500 pared some of its losses, it was on track for the biggest drop in almost two years; cryptocurrencies reeled from a bout of risk aversion in global markets.
- But the stock plunge is vindicating some prominent bears, who are stressing the risks of an economic slowdown.
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