![Article Image](https://www.freedomsphoenix.com/Uploads/Graphics/687-0805093429-aw-shit.jpg)
IPFS News Link • Stock Market
Nearly $2 Trillion Wiped Out from Stock Market as Fears of Global Recession...
• The Gateway PunditJUST IN: ???????? Over $1.93 trillion wiped out from the US stock market so far today. pic.twitter.com/LVnknYv2eB
— Watcher.Guru (@WatcherGuru) August 5, 2024
The first Monday in August has arrived with panic sweeping through the finance sector, as nearly $2 trillion was wiped out of the S&P 500 at market open. Investor anxiety over a looming global recession triggered a selloff that sent U.S. stock futures plummeting and raised urgent questions about the Biden's administration's economic policies.
As trading began on August 5th, a staggering $1.93 trillion was wiped out from the S&P 500, with stock index futures taking a massive hit. S&P 500 futures fell more than 4.4%, while Dow futures were down 3%, translating to a loss of 1,212 points. The Nasdaq 100 futures fared even worse, plummeting over 5.2%, according to Watcher.guru.