INSIGHTS: Global Stock Market Chaos and How it Relates to Gold
Insights
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Posted 08/08/2024
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On Monday, Wall Street faced a sharp decline due to a grim U.S. jobs report, with major indices suffering significant losses. The Dow Jones fell by 2.6%, NASDAQ by 3.43%, S&P 500 by 3%, and Russell 2000 by 3.33%. This selloff extended globally, wiping out approximately $6.4 trillion, with Japan's Nikkei 225 dropping 13.2%. Despite being safe havens, gold and silver also saw declines due to margin call liquidations, although gold remains up over 15% for the year.
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