Stocks tumble on US recession fears
The Capitalist Pig hedge fund manager Jonathan Hoenig advises investors to focus on what’s working now in the markets, and it’s not Big Tech.
Stocks plunged on Monday as U.S. recession fears caused turmoil throughout the global markets.
The Dow Jones Industrial Average tumbled 1,033.99 points, or 2.6%, while the Nasdaq Composite and S&P 500 fell 3.43% and 3%, respectively. The Dow and S&P 500 closed out their worst day since September 2022.
A weak jobs report and shrinking manufacturing activity in the world’s largest economy, coupled with dismal forecasts from the big technology firms, pushed the Nasdaq 100 and Nasdaq Composite into a correction last week.
“While Friday’s employment report was disappointing, it wasn’t the only…
