Global Stock Market Sell-Off

Recent stock market activity has shown a significant downturn across major global indices, raising concerns among investors. Notably, the U.S. NASDAQ composite saw a decline of nearly 3.5%, while the UK's FTSE 100 dropped more than 2% on the same day. This turmoil has been exacerbated by a disappointing jobs report indicating a sharp decrease in hiring, leading to fears about the U.S. economy's stability and speculations about a delayed interest rate cut by the Federal Reserve. The Chicago Fed's president attempted to reassure the public that a recession was not imminent as investors positioned themselves cautiously ahead of the Fed's upcoming meeting in mid-September.