JUST IN: Over $2.9 trillion has been wiped out from major...

JUST IN: Over $2.9 trillion has been wiped out from major indices and stocks this morning due to growing fears of a global recession. This is the worst day for stocks since March 16, 2020, during the COVID-19 pandemic fears.

https://x.com/JacobKinge/status/1819378778457375142

I'm surprised by how quickly market participants & economists are shifting their narrative. Just a couple of weeks ago it was fashionable to stress inflation persistence as a reason to maintain higher rates. Now everyone is onboard with a Sep cut & some are discussing a 50bps cut

https://x.com/GregDaco/status/1819378958871261524

Nikkei looking at a -5% open Monday, will bring 3-day drop to 13% and spark epic deflationary shock Idiots at the Bank of Japan blew up the world again

https://x.com/zerohedge/status/1819386745227460696

...almost a thousand points drop on the Dow!

...likely to be a -3% drop on ASX on Monday on panic selling.

...as I had warned not to wait for the day things blow up, because it will be painful !

...can't believe I placed a small bet on BBOZ and BBUS today (just to make weekend tea money, nothing more).