Big Take Podcast
What’s Behind the Global Market Meltdown
The plunge in global shares stunned even seasoned market observers. Listen to the Big Take podcast to find out what spooked investors.
Stock market information displayed at the Nasdaq MarketSite in New York on Aug. 5.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
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On Wall Street, the S&P 500 had its worst day in nearly two years and the Dow Jones Industrial Average shed over 1,000 points. Shares on Japan’s Nikkei Index fell by over 12% — their worst showing since Black Monday in 1987. Cryptocurrencies dropped, bond yields rose and the VIX, known as the fear index, saw its biggest one-day spike in more than 30 years. Is the Fed to blame? AI over-exuberance? Warren Buffett?