Weak jobs numbers and recent speculation about a U.S. recession contributed to warnings that this year’s stock rally may have gone too far. From New York to London and Tokyo, equities were hit hard. Wall Street’s “fear gauge” dropped from 65 on Monday to about 28 on Wednesday, indicating that investor’s fears were easing.  What’s behind the instability in global financial markets? 

Joining the discussion:

• John Gong is a Professor at the University of International Business and Economics. 
• Remi Piet is the Co-founder of the international consulting firm, Embellie Advisory. 
• John Quelch is Executive Vice Chancellor at Duke Kunshan University. 
• Anthony Chan served as Chief Economist for JP Morgan Chase. 

US banks tumble as weak economic data sparks recession fears https://t.co/Bqwu3QlYp6 pic.twitter.com/zZ0QGgivBo

— Reuters Business (@ReutersBiz) August 5, 2024

The three-day meltdown in Japan’s stocks:

– shrank the country's stock market value by about $1.1 trillion
– saw the biggest percentage fall since Black Monday in 1987
– triggered 10 circuit breakers on stock futures in one day, the most since 2016https://t.co/Axtfx6vhGG

— Bloomberg Markets (@markets) August 7, 2024