{"id":2319591,"date":"2024-08-05T17:22:01","date_gmt":"2024-08-05T21:22:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/2008-crash-all-over-again-wall-streets-fear-gauge-rises-to-a-4-year-high-as-market-meltdown-gets-worse\/"},"modified":"2024-08-05T17:27:46","modified_gmt":"2024-08-05T21:27:46","slug":"2008-crash-all-over-again-wall-streets-fear-gauge-rises-to-a-4-year-high-as-market-meltdown-gets-worse","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/2008-crash-all-over-again-wall-streets-fear-gauge-rises-to-a-4-year-high-as-market-meltdown-gets-worse\/","title":{"rendered":"2008 Crash All Over Again? Wall Street&#8217;s &#8216;Fear Gauge&#8217; Rises to a 4-Year High as Market Meltdown Gets Worse"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2F2008-crash-all-over-again-wall-streets-fear-gauge-rises-to-a-4-year-high-as-market-meltdown-gets-worse%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2319591&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A recent\u2064 wave of\u200d panic has hit Wall Street, reminiscent of the 2008 recession, as fears of an impending economic downturn prompted a significant drop in\u200c the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/larry-kudlow-says-govt-should-not-intervene-in-gamestop-trading-frenzy\/\" title=\"Larry Kudlow says govt. should not intervene in GameStop trading frenzy\">stock markets<\/a>. The &#8220;fear gauge,&#8221;\u2062 or VIX, surged \u200cto its highest level since March 2020, indicating heightened investor anxiety about a potential recession. The markets experienced heavy losses, with notable declines across global indexes; for instance, Japan&#8217;s Nikkei 225 \u200dsaw its largest drop since\u2064 1987.<\/p>\n<p>Key factors for this sudden market downturn included a\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-to-end-trumps-policy-to-withhold-white-house-visitor-logs-from-public\/\" title=\"Biden Admin To End Trump\u2019s Policy To Withhold White House Visitor Logs From Public\">disappointing jobs report<\/a>, rising \u2064household financial stress,\u200b and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/politico-columnist-has-so-little-faith-in-biden-that-hes-afraid-joe-will-just-die-one-evening\/\" title=\"Politico columnist doubts Biden&#039;s abilities, fears sudden demise.\">escalating geopolitical tensions<\/a>, particularly related to conflicts in the Middle \u2062East. Analysts suggest that investor confidence has waned, and there&#8217;s growing concern that the economy may not \u200cachieve a &#8220;soft landing.&#8221; Experts emphasize the need for aggressive\u2063 Federal Reserve\u200b rate \u2063cuts to support economic growth amidst these uncertainties.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section>\n<p>Contagious panic swept through Wall Street on Monday, as fears of being blindsided by a recession sent markets spiraling downward. For many, it recalled the fervent panic that led to the 2008 recession.<\/p>\n<p>What&rsquo;s known on Wall Street as the &ldquo;fear gauge&rdquo; roared into the stratosphere Monday morning to 65.70 before receding to about 36 later in the morning, according to <a href=\"https:\/\/fortune.com\/2024\/08\/05\/global-stock-market-vix-fear-gauge-highest-level-2020\/\" target=\"_blank\" rel=\"noopener\">Fortune<\/a>.<\/p>\n<p>That&rsquo;s still up from a reading of 23 on Friday and 12 at the start of the year.<\/p>\n<p>That&rsquo;s the highest the indicator has been since March 2020, when COVID-19 was leading to mass lockdowns.<\/p>\n<p>&ldquo;The immediate implication is that investors fear that the economy may weaken rapidly and want the Fed to cut rates aggressively to maintain economic growth,&rdquo; Paul Christopher, head of global investment strategy at Wells Fargo said.<\/p>\n<p>  <script> \t\t\t\tif( ! getCookie( 'ff_subbed' ) ) if( typeof FFADS.replace_ict !='undefined' ) if( FFADS.replace_ict ) eval( FFADS.replace_ict ); \t\t\t<\/script> <\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Major wars breaking out, the economy is heading into recession, the markets are crashing.<\/p>\n<p>Who wants 4 more years of this?<\/p>\n<p><a href=\"https:\/\/t.co\/2tvbU30BdP\">pic.twitter.com\/2tvbU30BdP<\/a><\/p>\n<p>&mdash; Wall Street Silver (@WallStreetSilv) <a href=\"https:\/\/twitter.com\/WallStreetSilv\/status\/1820462129104744708?\">August 5, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The market plunge was not confined to the U.S.<\/p>\n<p>The Nikkei 225 dropped 12 percent in Japan, the biggest drop in the country since 1987.<\/p>\n<p>By mid-afternoon, the Dow Jones Industrial Average had fallen more than 1,200 points, according to <a href=\"https:\/\/www.cbsnews.com\/news\/stock-market-today-dow-jones-s-p-500-down\/\" target=\"_blank\" rel=\"noopener\">CBS<\/a>.<\/p>\n<p>The S&amp;P 500 dropped 2.4 percent while the Nasdaq Composite fell 2.9 percent.<\/p>\n<p>&ldquo;The main factor that has staying power is the economy&rsquo;s slowdown,&rdquo; Christopher wrote.<\/p>\n<p>&ldquo;Investors have been watching household financial stress build for the past two years, but during that time, job growth remained above its December 2009-December 2019 average of 180,000 new jobs per month,&rdquo; he wrote, indicating the importance of a Friday jobs report that showed growth less than expected.<\/p>\n<p>The sudden panic was &ldquo;very, very unusual,&rdquo;Joe Tigay, portfolio manager for Rational Equity Armor Fund, said, according to the U.K. <a href=\"https:\/\/www.dailymail.co.uk\/yourmoney\/article-13710211\/global-stock-market-crash-japan-united-states-nasdaq-recession-fear.html\" target=\"_blank\" rel=\"noopener\">Daily Mail<\/a>.<\/p>\n<p>&ldquo;It was just too long of a period where stocks were going up and there was just the assumption that all they have to do is just wait, and then they&rsquo;ll go higher at some point,&rdquo; Tigay said. &ldquo;At some point that snaps out of reality.&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Not sure if anyone needs a history lesson or not considering Wall Street, the Dow and the Nasdaq today&hellip;<\/p>\n<p>Friday, October 18, 1929-Big drop in stock prices began<br \/> **Panic sets in &#128072;&#127996;(WE ARE HERE)<br \/> Thursday, October 24, 1929-12M s traded while firms try to buy them up to&hellip; <a href=\"https:\/\/t.co\/zXqqY2Kh0x\">pic.twitter.com\/zXqqY2Kh0x<\/a><\/p>\n<p>&mdash; SaltyGoat (@SaltyGoat17) <a href=\"https:\/\/twitter.com\/SaltyGoat17\/status\/1820526258247086407?\">August 5, 2024<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Victoria Fernandez, Crossmark Global Investments chief market strategist, called the drop the &ldquo;culmination of events that came together at the end of last week&rdquo; including everything from a disappointing jobs report to tensions over a possible war in the Middle East.<\/p>\n<p>She noted that investors are fearing that &ldquo;maybe that soft landing is not a given and that&rsquo;s why we are seeing the reactions we are.&rdquo;<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ]; 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( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wave of panic spread across Wall Street on Monday as concerns about an impending recession caused markets to plummet. This situation reminded many of the intense anxiety that preceded the 2008 financial crisis. The &#8220;fear gauge,&#8221; a key indicator on Wall Street, surged to 65.70 in the morning before dropping to around 36 later, according to Fortune. This was a significant increase from a reading of 23 on Friday and just 12 at the beginning of the year, marking its highest level since March 2020 when COVID-19 triggered widespread lockdowns. Paul Christopher, head of global investment strategy at Wells Fargo, noted that investors are worried about a rapid economic downturn and are calling for aggressive interest rate cuts from the Federal Reserve to support growth.<\/p>\n<p>The market decline wasn&#8217;t limited to the U.S.; Japan&#8217;s Nikkei 225 index fell by 12 percent\u2014the largest drop since 1987. By mid-afternoon, the Dow Jones Industrial Average had dropped over 1,200 points, while the S&amp;P 500 and Nasdaq Composite fell by 2.4 percent and 2.9 percent respectively. Christopher emphasized that ongoing economic slowdown is a major concern for investors who have observed increasing financial stress among households over two years despite job growth remaining above average during that period.<\/p>\n<p>Joe Tigay, portfolio manager for Rational Equity Armor Fund, described this sudden panic as &#8220;very unusual,&#8221; suggesting it stemmed from an extended period where stock prices were rising with an expectation they would continue doing so indefinitely\u2014a belief that has now been challenged.<\/p>\n<p>Victoria Fernandez from Crossmark Global Investments attributed this market drop to various factors converging last week\u2014including disappointing job reports and escalating tensions regarding potential conflict in the Middle East\u2014leading investors to doubt whether a smooth economic transition is assured<\/p>\n","protected":false},"author":1,"featured_media":2319592,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/stonks-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[37261,37264,37265,37263,37262],"class_list":["post-2319591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-2008crash","tag-feargauge","tag-financialnews","tag-marketmeltdown","tag-wallstreet"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/08\/stonks-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2319591"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2319591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2319592"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2319591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2319591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2319591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}