S&P 500 posts worst day since 2022 in global market sell-off. Google loses antitrust case. Bitcoin tumbles
A trader works on the floor of the New York Stock Exchange ahead of the closing bell in New York City on August 5, 2024.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe, as growing concerns about the U.S. economy rocked global stock markets .
Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are."You have been provided a gift here the last couple days, in terms of your Amazons, Apples, Googles, Microsofts," Belski said. "You absolutely, positively have to have exposure to these names."
Main Street Research CIO James Demmert agreed that a "healthy correction" was "overdue" given recent high valuations. Chicago Fed President Austan Goolsbee's comments that the Fed would "fix it" if economic conditions deteriorate significantly could provide assurance for a jittery market. Wall Street's fear gauge spiked to as high as 65 during Monday's pullback, though later slipped to about 38.
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