Stock Market Crash

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Rush to Cash Is Now at Fastest Pace Since Pandemic

(Bloomberg) — Cash is king, with investors fleeing to the safety of cash funds at the fastest pace since the coronavirus pandemic as the Federal Reserve remains firmly hawkish, according to strategists at Bank of America Corp. The asset class had inflows of $62.1 billion in the week through Nov. 2, according to a note […]

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After $13 Trillion Stock Crash, Traders Are Ready to Fight Back

(Bloomberg) –Judging by the ominous pronouncements from Wall Street luminaries, every trader under the sun should be prepping for fresh turmoil in the world’s biggest stock market. Yet hedging for doom and gloom is falling out of fashion fast, thanks to a historic equity rout that’s already erased $13 trillion in market value this year […]

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BOE’s Bailey Has a Message for Funds: ‘You’ve Got Three Days’ to Wind Up Positions

(Bloomberg) — Bank of England Governor Andrew Bailey urged investors to finish winding up positions that they can’t maintain, saying the central bank will halt intervention in the market as planned at the end of this week. “My message to the funds involved and all the firms is you’ve got three days left now,” Bailey […]

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World Economy Roiled by Simultaneous Shocks Echoing 2007 Anxiety

(Bloomberg) — The world economy is showing signs of a rapid downshift as it contends with a series of shocks — some of them self-inflicted by policymakers — increasing the likelihood of another global recession and the danger of major financial disruptions. “We’re living through a period of elevated risk,” former US Treasury Secretary Lawrence […]

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Plunging Markets Trigger New Intervention Warnings Across Asia

(Bloomberg) — After some of the most dramatic declines in global financial markets since the Federal Reserve began lifting borrowing costs six months ago, authorities in Asia are stepping up efforts to prevent a downward spiral. South Korea joined a growing list of interventions on Wednesday, with the central bank saying it will buy as […]

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Traders Brace for S&P 500 Free Fall as Chart Supports Crumble

(Bloomberg) — The spillover from the UK’s proposed tax cuts is washing into the US stock market. The S&P 500 is set to open down more than 1%, bringing its rout in the week past 4%. The index already closed below the closely watched level of 3,800, leaving the June bear-market low of 3,666 as […]

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New Lows for US Stocks as Inflation Shock ‘Ain’t Over’

(Bloomberg) — US stocks haven’t seen the worst of this year’s declines yet against the backdrop of scorching inflation and a hawkish Federal Reserve, according to Bank of America Corp. strategists. The “inflation shock ain’t over” and an earnings recession will likely drive stocks to news lows, strategist Michael Hartnett said in a note. Although […]

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Stocks Slide Deepens as Dollar Extends Advance: Markets Wrap

(Bloomberg) — Equities extended declines on Friday, with an index of global stocks on track for the worst week since June, while a gauge of the dollar soared to a fresh record, reflecting bets for outsize Federal Reserve interest rate hikes. US futures dropped, suggesting the selloff that drove the S&P 500 index to its […]

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John Paulson Hid Billions in Secret Trusts, Wife Claims

(Bloomberg) — John Paulson was accused by his wife Jenica of secretly creating a series of trusts to hide billions of dollars in assets from her in their divorce. Most Read from Bloomberg Jenica Paulson, 50, sued her husband Thursday in state court in Manhattan, claiming he and “a cadre of hand-picked agents and advisors” […]

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BofA Says Recession Fears Prompt Investors to Dump Stocks Again

(Bloomberg) — Investors are hoarding cash and hiding in US Treasuries as they dump equities amid fears that the US economy is headed for a recession. Nearly $63 billion flowed into cash in the week through July 6, while global equity funds had redemptions of $4.6 billion, according to Bank of America Corp. note citing […]

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Super Rich

Richest Billionaires Lose $1.4 Trillion in Worst Half Ever

(Bloomberg) — Elon Musk’s fortune plunged almost $62 billion. Jeff Bezos saw his wealth tumble by about $63 billion. Mark Zuckerberg’s net worth was slashed by more than half. All told, the world’s 500 richest people lost $1.4 trillion in the first half of 2022, a dizzying decline that marks the steepest six-month drop ever […]

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BofA Says Brace for Recession Shock After Worst Rout in 52 Years

(Bloomberg) — A “recession shock” begins for markets following the worst first-half for the S&P 500 in more than 50 years, Bank of America Corp.’s Chief Investment Strategist Michael Hartnett says. While expectations of aggressive rate hikes by the Federal Reserve are peaking, inflation expectations are not, and Bofa’s bull and bear indicator remains at […]

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Tech Stocks

Technology Stocks Head for Historic Wipeout as US Economy Cools

(Bloomberg) — Skeptics have long made a sport of predicting that the decade-long rally in technology stocks was destined to reverse. At the halfway point of 2022, it seems like this is the year when they will be proven right. The Nasdaq 100 Index has tumbled by almost a third this year, including a 1.3% […]

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60-Year Wall Street Veteran Says S&P 500 Will Sink to 3,100

(Bloomberg) — Not many industry experts would shrug off a 35% drop for the S&P 500, but six-decade Wall Street veteran George Ball says a fall of that magnitude would be a normal adjustment. Ball, chairman of Houston-based investment firm Sanders Morris Harris, predicts the S&P 500 will bottom at 3,100 from its all-time high […]

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S&P 500 May Have Another 24% to Fall, 150 Years of Market History Shows

(Bloomberg) — The S&P 500 Index may have another 24% to fall by year-end, if the past 150 years of financial-market history are any guide. That’s according to Societe Generale, which calculates the benchmark gauge may need to tumble as much as 40% from its January peak in the next six months to hit bottom. […]

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