The Great Recession of August 5, 2024 (with Justin Wolfers)
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The Carmela Crash: An Analysis of Market Reactions
This chapter explores the 'Carmela crash' on August 5, 2024, following a significant decline in the Japanese market that caused a smaller 3% drop in U.S. stocks. It highlights the responses from political parties and the media, while providing perspective on the event's impact in the context of historical market downturns.
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