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Global Selloff Intensifies With Focus on Fed Rescue
News August 05, 2024 at 07:54 AM
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What You Need To Know
- Markets are extending last week's retreat, when a weak U.S. jobs report ignited fears that the Fed isn't moving fast enough to prevent a sharp economic downturn.
- At one point, Nasdaq futures tumbled 6.5%, coming close to triggering a circuit breaker, before paring the drop.
- Investors sought havens in government bonds and the Swiss franc.
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