U.S. Stock Market Declines as Economic Recession Fears Rise

The U.S. stock market experienced a significant decline on August 2, 2024, as the Nasdaq Composite Index entered correction territory due to a disappointing jobs report. This report has raised concerns about a potential economic recession, prompting analysts to reassess the labor market’s health. With the Sahm Rule triggered, discussions around the Federal Reserve’s monetary policy and the urgency for interest rate cuts are intensifying, making this a critical time for investors.