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Nearly $2 Trillion Wiped Out from Stock Market as Fears of Global Recession Spark Panic Among Investors — Warren Buffett Dumped Nearly Half of Apple Stake and Holds $277 Billion in Cash Reserve
https://www.thegatewaypundit.com ^ | 8/5/2024 | jim hoft

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.

...more


TOPICS:
KEYWORDS: apple; berkshirehathaway; fakewaypundit; hh2; hoftisafairy; investment; kamalacrash; markets; stockmarket; warrenbuffett
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1 posted on 08/05/2024 12:16:36 PM PDT by bitt
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To: null and void; aragorn; EnigmaticAnomaly; kalee; Kale; AZ .44 MAG; Baynative; bgill; bitt; ...

p


2 posted on 08/05/2024 12:16:51 PM PDT by bitt (<img src=' 'width=30%>)
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To: bitt

the Kamala Krash


3 posted on 08/05/2024 12:17:56 PM PDT by thinden (buckle up ....)
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To: bitt

So glad we Bailed on Biden, long ago.


4 posted on 08/05/2024 12:18:16 PM PDT by Jane Long (The role of the GOP: to write sharply-worded letters as America becomes a communist hell-hole.)
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To: bitt

Well, if you like this market collapse, open borders, world wars, and inflation - you’ll like Kamala.

I just wish we’d start seeing some creative issue based TV ads for Trump.


5 posted on 08/05/2024 12:20:11 PM PDT by 1Old Pro
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To: 1Old Pro

great trump ad posted last night..

https://x.com/alx/status/1820293298289831973


6 posted on 08/05/2024 12:24:18 PM PDT by bitt (<img src=' 'width=30%>)
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To: bitt
Warren and I have something in common!!! I have $277 in cash reserves!

-PJ

7 posted on 08/05/2024 12:25:25 PM PDT by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: 1Old Pro

The Democratics are hanging themselves, note taking time as they spasm. When they are done flopping we can tell folks that there is a different path.


8 posted on 08/05/2024 12:26:38 PM PDT by Kudsman (Baby Lives Matter)
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To: bitt

5% pullback is half way to a buy signal or the 2/3s of the way to the fed calling a zoom call for an emergency rate cut. Just enough people see a zero gain for 2024 in their accounts, they don’t bother voting for harris after 2 years of gains that just might have beat inflation. This is all yeild curve no matter what the media tells you, every normal inverted normal yeild curve cycle has a pullback in equities.

Tighten up you holdings and take some profits in the big names. Call options and directionals are heck of lot better re entry plan if you want to play the bounce with the traders.


9 posted on 08/05/2024 12:26:40 PM PDT by protoconservative (Been Conservative Before You Were Born )
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To: Political Junkie Too

lol


10 posted on 08/05/2024 12:26:55 PM PDT by Gene Eric (Don't be a statist! )
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To: Political Junkie Too
All you elitists bragging!

I have $2.77 in reserve.

11 posted on 08/05/2024 12:27:23 PM PDT by Repeat Offender (While the wicked stand confounded, call me with Thy saints surrounded.)
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To: bitt

great ad


12 posted on 08/05/2024 12:30:13 PM PDT by BipolarBob (Depressed? Do what I did, replace your mirrors with "You Look Great!" signs.)
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To: bitt
Speaking of #Kamalacrash here's what it looks like if Kamala selects Pete Buttgiggidy (trans secretary) as VP


13 posted on 08/05/2024 12:30:22 PM PDT by Blue Highway
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To: 1Old Pro

I haven’t seen one yet living in NY. The dems are taking it for granted. But I suspect I may be seeing some in the future.


14 posted on 08/05/2024 12:31:22 PM PDT by Kudsman (Baby Lives Matter)
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To: Repeat Offender

I’m not bragging but I have $.277 round it up to $.28


15 posted on 08/05/2024 12:31:35 PM PDT by Blue Highway
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To: bitt

It’s not about Kamala, it’s about the war that starts this week in Iran, and will close Hormuz Straits halting 30% world oil shipping


16 posted on 08/05/2024 12:37:39 PM PDT by FlyingEagle
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To: Political Junkie Too

LOL.


17 posted on 08/05/2024 12:38:37 PM PDT by Retain Mike ( Sat Cong)
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To: bitt

The people I know who might vote Kamala but could be convinced otherwise get their news from TV, not X.

They need to buy TV time.


18 posted on 08/05/2024 12:44:52 PM PDT by 1Old Pro
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To: Blue Highway

I have two cents in reserve.

My portfolio is down 3.7% today with 15 minutes to go. I beat the Nikkei. Is this good?


19 posted on 08/05/2024 12:45:27 PM PDT by moviefan8
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To: Blue Highway

That’s nothing. I have $.0277. And it’s all mine!


20 posted on 08/05/2024 12:48:00 PM PDT by Afterguard
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