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CNBC's "Fast Money"

Stocks Plummet On Recession Fears… And Japanese Stocks Tumble 8/5/24

CNBC's "Fast Money"

CNBC

News, Investing, Business

3.91.3K Ratings

🗓️ 5 August 2024

⏱️ 49 minutes

🧾️ Download transcript

Summary

Stocks continue their slide, with the Dow dropping more than 1,000 points. How to navigate the sell-off, volatility, and rate moves. Plus Japanese stocks also plummeting, notching their worst day since the 1987 Black Monday crash. How the surge in the Yen is impacting the ‘carry trade’. Fast Money Disclaimer

Transcript

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0:00.0

Live from the NASDAQ Market site on a stock sell-off Monday. This is fast money. Here's what's on tap tonight.

0:07.0

Major averages tumble, tech and the NASDAQ, the biggest loser at one point dropping nearly 6. half percent. We'll break down today's

0:13.4

slide and ask how much more pain is still to come. Plus Buffett's portfolio

0:17.4

haircut. My Berkshire cut its sake in Apple in half and continues to trim

0:21.4

holdings the Bank of America.

0:23.0

The ripple effects on the market straight ahead.

0:25.2

And later, inside the monster spike in volatility,

0:28.3

the historic drop in the Japanese stocks,

0:30.4

and why investors either rushing for the exit or looking to buy during this route

0:34.5

ran into roadblocks today.

0:36.4

I'm Melissa Lee coming to you live from the studio at the Nasak.

0:38.7

A major sell-off calls for a super-sized desk.

0:41.2

So we got that for you tonight, Full House here. Tim Seymour,

0:43.8

see Grasa, Dan Nathan Gaiadami, and Lori Calvasina, head of US Equity Strategy

0:48.2

at RBC. We start off with that massive market sell-off shaking the foundation of many investors.

0:53.6

The major average is all dropping 2% or more, though closing off their worst level of the

0:57.4

session.

0:58.4

The Nasak down as much as 6.4% early in the day.

1:01.5

Still shed nearly 3.5 percent close at three month

1:04.0

lows the S&B down 3 percent the Dow dropping more than a thousand points its

1:08.6

biggest point dropped since September 2022 and the small cap Russell 2000, officially giving back all its gains

1:15.8

from the start of that supposed rotation last month.

...

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