Global Stock Market Meltdown as Fears Grow US Economy Will ‘Collapse’

• Global Stock Market Meltdown as Fears Grow US Economy Will ‘Collapse’
  by Daniel Jones, Consumer Editor For Dailymail.Com and Tilly Armstrong Assistant Consumer Editor For Dailymail.Com and Ap, https://www.dailymail.co.uk/
  Shares across the world tumbled Friday – as investors panicked over signs of weakness in the US economy. The S&P 500 was sinking by 2.5 percent in midday trading, on pace for its worst day since 2022. The Dow Jones was down 954 points, or 2.4 percent. At one point in the morning, the tech-heavy Nasdaq was down 3.2 percent, meaning it has lost more than 10 percent from a record high on July 11.
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  The tailspins were sparked by a dire jobs report on Friday morning. Unemployment in July rose to the highest level since October 2021 – suggesting the US economy is sputtering and raising fears of a recession. Even before that report, stock markets in Europe, China and Japan in particular had plunged. Economists say the worrying state of the economy now means the Federal Reserve must cut interest rates much more quickly than planned to avoid a huge recession. 
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