Posted on 08/05/2024 12:16:36 PM PDT by bitt
The first Monday in August has arrived with panic sweeping through the finance sector, as nearly $2 trillion was wiped out of the S&P 500 at market open. Investor anxiety over a looming global recession triggered a selloff that sent U.S. stock futures plummeting and raised urgent questions about the Biden’s administration’s economic policies.
As trading began on August 5th, a staggering $1.93 trillion was wiped out from the S&P 500, with stock index futures taking a massive hit. S&P 500 futures fell more than 4.4%, while Dow futures were down 3%, translating to a loss of 1,212 points. The Nasdaq 100 futures fared even worse, plummeting over 5.2%, according to Watcher.guru.
JUST IN: Over $1.93 trillion wiped out from the US stock market so far today. pic.twitter.com/LVnknYv2eB
— Watcher.Guru (@WatcherGuru) August 5, 2024
The Nasdaq has never been down by that amount in its history.
WATCH: “We have never been down 1,000+ points — EVER, not even intraday — on the Nasdaq.”#KAMALACRASH pic.twitter.com/iCXN83vOkQ
— RNC Research (@RNCResearch) August 5, 2024
In a striking move, investor Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter, according to CNBC.
Buffett’s recent actions have raised eyebrows across Wall Street; the 93-year-old investment titan has been on a massive selling spree, offloading over 75 billion** in equities during the second quarter alone. This aggressive liquidation has raised Berkshire’s cash reserves to an unprecedented **277 billion, an all-time high for the conglomerate. Notably, Buffett also began selling his second-largest holding, Bank of America, in July.
JUST IN: Warren Buffett now holds $277 Billion in cash and has been selling stocks like never before, including Apple.
He’s getting ready for a crash… pic.twitter.com/7gNrDmsX97
— Radar (@RadarHits) August 4, 2024
According to Quartz:
Warren Buffett’s Berkshire Hathaway has $234.6 billion worth of short-term investments in U.S. Treasury bills, the massive conglomerate’s second-quarter earnings report Saturday showed.
Buffett has always been a fan of U.S. Treasury bills (also known as T-bills). At the annual Berkshire conference in May, the 93-year-old investor called them “the safest investment there is.”
Treasury bills are short-term securities issued — and backed — by the U.S. government. They are issued in maturities ranging from four weeks to 52 weeks, at a minimum purchase amount of $100. The bills then increase in value to pay off their entire face value at maturity.
With Berkshire buying up $229.5 billion in T-bills and fixed maturity securities in the first six months of the year, it surpassed the Federal Reserve in its investment into the securities. The Federal Reserve reported last week that it holds $195.3 billion in the bills.
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I don’t watch TV. Aren’t there Trump ads on TV?
Pro Kamala ads on NBC during the Olympics convincing low info voters to vote for her. Nothing from a Trump PAC.
Oops, mere flesh wound. Trumps fault. White Nationalists. Israel. Russian protagonists. Racists
OTA, in between the Medicare ads.
,la krash, pricing in incompetence
It was inevitable. Kamala, inflation, federal debt, foreign instability, etc. etc. Hopefully the voters will see that we need to throw the buns out.
Bums.
I had four stocks, bailed on all this morning. NVDA, META, MSFT, and COST.
Up overall, but down 20% since June. It was sure fun for a while. :)
I don’t know anyone is bothering to watch the olympics-but I live in a rural area where most of us use the streaming services-our electrical coop provides high speed internet service at a good price-almost no one watches the alphabet networks. And there are Trump ads on the streaming channels. there is no cable out here-only SATV like HughesNet or streaming service, which seems to be the norm in remote areas. The only people I know who have cable are in cities/towns...
Day Trader problems, no need to react, I’m still up $135k over the last 12 months. 12 months from now looks fine too.
Spoken like a rich man!!! Preach!!!!
Be sure to tell your local demonrat that ya gonna “thank em” at the polls in November. Spit
LOL-I have about $1.00 in change-mostly nickels and dimes. Most people out here don’t have/can’t afford stocks, so no sell this, keep- that, watch the bla, bla, bla-but we do know that there is already a recession, and a crash is coming just because of the decrease in income of our small businesses, price of food and gas the bubbly real estate market beginning to return to real values, etc. We have seen this movie before-in 2008-2009...
Yes. An ad with Trump talking to the camera while stocking cat food cans in the cupboard…
Trump isn’t gonna win NY so no reason to spend money on ads there.
Go ahead, rub it in.
Short term treasuries are a hedge against a serious crash. Hope I'm wrong.
All arrows are green after=hours. Palantir smashed earnings after-hours.
AlTrump ads, every other ad in the Philly market.
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