The U.S. market got off to a rocky start on Monday, with the Dow plunging more than 1,000 points as global markets dropped amid growing concerns about a U.S. recession. 
The Dow Jones Industrial Average <a href="https://www.cnbc.com/2024/08/04/stock-market-today-live-updates.html" target="_blank" rel="noopener">dropped</a> by as much as 1092 points Monday morning and was hovering around a 2.5% drop by 10:43 am EST. The NASDAQ fell by as much as 4.1%, while the S&amp;P 500 dropped by as much as 3.3%. The U.S. market collapse followed markets around the world, from Asia to Europe, with Japan’s Nikkei 225 dropping more than 12%. 
The struggles followed a <a href="https://www.dailywire.com/news/unemployment-rate-reaches-highest-point-in-nearly-3-years">report</a> from the Bureau of Labor Statistics showing that U.S. unemployment in July reached its highest point since October 2021. The report showed that unemployment rose to 4.3% while just 114,000 non-farm jobs were added last month, far less than the 185,000 expected by analysts. 
<a href="http://www.amiracist.com/" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url?q=http://www.amiracist.com/&amp;source=gmail&amp;ust=1722954638989000&amp;usg=AOvVaw2h4_GXX2w1UYpx8R3FKqzi">WATCH THE TRAILER FOR &#8216;AM I RACIST?&#8217; — A MATT WALSH COMEDY ON DEI</a>
“The market was whistling past the graveyard. I think people were basically lulled into a sense of security, yet the market itself was very vulnerable to correction — and the weaker than expected economic and employment data provided that catalyst for correction,” CFRA Research chief investment strategist Sam Stovall <a href="https://www.cnbc.com/2024/08/04/stock-market-today-live-updates.html" target="_blank" rel="noopener">said</a>. 
Stocks in tech companies and artificial intelligence have seen some of the steepest drops. On the S&amp;P 500, the tech industry<a href="https://www.marketwatch.com/livecoverage/stock-market-today-s-p-500-nasdaq-futures-dive-as-buffett-dumps-apple-yen-soars?mod=home-page" target="_blank" rel="noopener"> was</a> down by around 4%, while real estate was down more than 1%. 
Both the S&amp;P 500 and the NASDAQ Composite are reportedly on track for their worst August in more than two decades, according to Market Watch. Over the past three days, S&amp;P has been down 6.4%, and NASDAQ has been down 8.58%. Both are tracking for the worst August since 2002. 
The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-08-05-2024" target="_blank" rel="noopener">reported</a> that Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla combined lost around $753 billion in market capitalization as of Monday morning. 
JP Morgan analysts now <a href="https://finance.yahoo.com/news/analysts-weigh-market-selloff-090011912.html" target="_blank" rel="noopener">predict</a> a 50-50 chance of a recession, while Goldman Sachs <a href="https://www.barrons.com/articles/fed-goldman-recession-rates-16bf36fc">believes</a> there is a 25% chance of recession in the next year. 
<a href="https://www.dailywire.com/show/scamala-kamala-harris-unmasked" target="_blank" rel="noopener">WATCH BEN SHAPIRO’S ‘SCAMALA: KAMALA HARRIS UNMASKED’ ON DAILYWIRE+</a>
The market crashes have triggered comments from former President Donald Trump, who said that the Biden-Harris administration was to blame for the collapse. 
“Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole,” Trump posted on Truth Social. “Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!”

<script async src="https://www.tiktok.com/embed.js"></script>
<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Dow Drops More Than 1,000 Points As Global Markets Plunge Amid Recession Fears

CONTINUE READING

Owner Of ‘Trump House’ In Critical Condition After Brutal Beating

Vanished Teen Last Seen With Sexual Predator Released After Leftist DA Screw-Up

JD Vance’s ‘Simple’ Message After Massive Medicaid Fraud Takedown

WATCH: Police Crack Down After Teens Cause Chaos In Popular Beach Town

Feds Charge Somali Daycare Owner From Viral Video For Making Up Fake Kids

Dem Candidate Complained About Thai Prostitute ‘Loophole’ Closing

News

Business

Economics

Economy

Recession

Stock Market

U.S. Politics

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Dow Drops More Than 1,000 Points As Global Markets Plunge Amid Recession Fears