Tuesday, August 6, 2024

Black Monday 

     Better sit down. Views just read a discouraging report:   

     Global markets fell like dominoes on Monday. Japan's Nikkei index was the first to plunge, its biggest rout since the 1987 Black Monday crash. Stock exchanges in Europe and the United States followed, triggering a selloff that further fueled fears about the broader economy.

     The Dow, S&P 500 and Nasdaq sank. Wall Street's fear gauge, the VIX, soared to the highest level since 2020. 

     Recession fears were the primary driver of the stock market selloff. Domestic financial markets have been in a slump since August 1. 

     The July jobs report revealed smaller-than-expected 114,000 new jobs and a higher-than-expected 4.3 percent unemployment rate. This indicator suggests the country might be in the early months of a recession.   

Sunday's Coming

     Who has measured the waters in the hollow of his hand, or with the breadth of his hand marked off the heavens? Who has weighed the mountains on the scales and the hills in the balance? Who has understood the mind of the Lord, or instructed him as his counselor? Whom did the Lord consult to enlighten him? 

     Surely the nations are like a drop in a bucket; they are regarded as dust on the scales. Before him all the nations are as nothing. To whom, then, will you compare God? 

     He sits enthroned above the circle of the earth, and its people are like grasshoppers. To whom will you compare me? Or who is my equal, says the Holy One. 

          Isaiah 40:12-18




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