Tuesday Briefing: Global Markets Fell

by Pelican Press
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Tuesday Briefing: Global Markets Fell

Stocks tumbled over fears of a U.S. economic slowdown

A wave of anxiety rippled through financial markets yesterday. Stocks fell in the U.S. and around the world as investors zeroed in on signs of a slowing American economy.

The drop extended a sell-off that began on Friday after the U.S. released a jobs report that showed the highest level of unemployment in nearly three years. This deepened fears that the world’s largest economy could be headed for slower growth.

In the U.S., the S&P 500 fell 3 percent, its worst day since September 2022. In Japan, the Nikkei 225 index dropped 12.4 percent, its biggest one-day point decline. The FTSE 100, Britain’s benchmark index, had its worst day since July 2023, falling just over 2 percent.

There were other factors at play in the plunge: concerns that tech stocks had run up too far, too fast, and that a strengthening yen could hurt the prospects of Japanese companies and some global traders. In the U.S., some questioned whether the Federal Reserve may have waited too long before cutting interest rates. Here’s the latest on the market meltdown.

Bangladesh’s leader resigned and fled

Crowds celebrated in the streets of Dhaka, the capital, yesterday after Prime Minister Sheikh Hasina resigned and fled the country. The army chief said the military would oversee the formation of an interim government.

Hasina was forced out by weeks of protests that began peacefully and then transformed into deadly clashes with security forces. Almost 100 people were reported killed on Sunday, the deadliest day of the unrest.

🇺🇸 U.S. ELECTION 2024

The presidential election is less than 100 days away. This is what we’re watching.

During LeBron James’s two decades in the N.B.A., basketball’s popularity has exploded internationally, largely because of his influence. Advances in technology and lucrative media deals meant that teenagers all over the world could easily watch his games.

Now, at the Paris Olympics, he is playing in front of — and against — people who grew up dreaming of seeing him in person.

Everyone who made ‘Spirited Away’ happen onstage

The stage version of Hayao Miyazaki’s classic film, now showing at the London Coliseum theater, has 65 puppeteered elements in all — from dynamic particles of soot to a menacing bird with wings rendered from piano wire and sheet nylon. It took about four years and three months for around 70 people, including 30 performers, to put on this show.

One of the more challenging tasks was building the dragon puppet, Haku. The large puppet is covered in hand-carved scales with a mane composed of 5,000 strands of blue tubular crinoline. Four people are needed to operate it.



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