Business Rundown: Recession Fears Roil Markets Across The Globe

The Fox News Rundown

FOX News Podcasts

Daily News, News, Politics

3.4 • 1.7K Ratings

🗓️ 5 August 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

After a consequential U.S. jobs report showing unemployment at 4.3 percent, both US and global markets are plummeting as mounting recession fears have spooked investors into massive selloffs. The Big Tech stocks, once bolstering the markets, have begun to flounder, and now the scrutiny falls on Fed Chair Jerome Powell and a much anticipated September interest rate cut. But, has the Federal Reserve acted too slowly…and can it catch up now? FBN correspondent Lydia Hu speaks with President of Tengler Laffer Investment, Arthur Laffer Jr., about why stock markets across the world are preparing for a recession, the Federal Reserve weighing an “emergency rate cut,” and how recession concerns could impact Americans 2024 election preferences ahead of November. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	It's time to take the quiz.
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0:10.2	Clay, share, and of course listen listen to the quiz at the quiz.
0:13.7	Fox.
0:14.7	I'm Lydia Hooh and this is the Fox Business Run Down.
0:17.9	Monday, August 5th, 2024, U.S. markets plunge after a week jobs report and dismal
0:29.5	forecasts from Big Tech. A sell-off continues as Warren Buffett cuts his steak and
0:34.4	Apple and Invidia reports delays on its next generation of chips. Fears of a
0:39.6	recession royal global markets after US job growth slowed and unemployment jumped.
0:45.0	Has the Federal Reserve acted too slowly and can it catch up now?
0:50.0	So that would send a signal to the market that the Fed agrees that a recession is coming
0:54.4	and that they need to be much more aggressive monetary policy which would contradict everything they just said.
1:00.1	A global market sell-off intensifies losses cascading from Japan through Europe and the US.
1:07.0	Investors search for safety as fears of recession take hold.
1:11.0	Goldman Sachs increases the chance of a recession to 25 percent.
1:16.1	After Friday's disappointing jobs report showed the labor market is slowing and slowing fast.
1:22.2	Fewer jobs were added than expected and unemployment. and use big headlines from NVIDIA and a delay on its next generation of chips and
1:35.1	Warren Buffett flashing his steak and apple are stirring concerns and Intel
1:40.3	also cutting its workforce by 15%.
1:44.2	Earning season continues about a quarter of companies
	...

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