Mike Walden on the Historic Wall Street Tumble and Economic Fears \ 8-05-2024
WPTF Afternoon News · WPTF FM 92.9 AM 680
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Show Notes
N.C. State Economics professor emeritus Mike Walden joined Jeff Hamlin on the WPTF Afternoon News to discuss the historic tumble on Wall Street. Nearly everything on Wall Street tumbled as fears about a slowing U.S. economy worsened, triggering another sell-off for financial markets around the world. The S&P 500 sank 2.4% in midday trading Monday, the Dow Jones Industrial Average dropped 864 points, and the Nasdaq composite slid 2.8%. This episode explores the implications of the 12.4% plunge for Japan's Nikkei 225, its worst day since 1987, and what it means for the global economy.