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The 7

Tuesday, August 6, 2024

The 7

The Washington Post

Daily News, News

4.51.3K Ratings

🗓️ 6 August 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

Tuesday briefing: Tim Walz; stock markets; Google ruling; Tropical Storm Debby; Mondo Duplantis; and more


Read today's briefing.

Transcript

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0:00.0

Global stock markets fell sharply yesterday.

0:05.0

That's where we're starting the seven from the Washington Post.

0:08.0

I'm Hannah Jewel. It's Tuesday, August 6th.

0:11.0

Let's get you caught up with today's 7 stories.

0:17.0

Yesterday financial markets experienced some of the most intense volatility that Wall Street has seen in years.

0:25.6

In Japan, the country's benchmark stock index had its biggest single day drop on record.

0:31.0

Then when US markets opened, two major indexes had their worst day of trading in

0:35.8

almost two years. The Dow Jones Industrial Average shed over a thousand points, or 2.6%.

0:44.1

According to analysts, the sell-off was likely a reaction

0:46.8

to some concerns about the US economy.

0:49.4

That includes a weaker than expected jobs report last week, and also because of fears that the Federal

0:55.2

Reserve has left interest rates too high for too long. But economists say that you shouldn't panic.

1:01.8

The slide isn't necessarily a sign of a coming recession.

1:05.0

And at the time of our recording, before U.S. markets open, things are looking up.

1:10.0

Japanese stocks have rebounded, and U.S. futures are up ahead of the day's trading.

1:15.0

Of course, these things can change quickly,

1:18.0

so make sure you check out our site for all the latest news.

1:21.0

Number two. latest news.

1:24.0

Number two, Vice President Harris will start a multi-state tour with her running mate tonight.

1:30.6

Harris will appear with her VP pick at a rally in Philadelphia.

1:34.0

It will be the first of six joint stops in battleground states this week.

1:38.0

The only question is who her running mate will be.

...

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