U.S. stock futures dropped a lot on Monday due to worries about the economy slowing down. Tech stocks were hit hard. The Dow fell 665 points, the Nasdaq dropped 140 points, and the S&P slumped 755 points.
Last week, weak economic data made people think the Federal Reserve had kept interest rates high for too long. Jobs data for July was not good, making people worry about a slowdown.
There will be more data on Monday to show how strong the economy is. The stock market’s volatility is high, and many think there is a chance of a recession.
Big companies like Caterpillar and Disney will report earnings soon. Crude oil prices also fell because of concerns about a slowdown in the U.S. economy.
The future is uncertain, and people are watching closely to see what happens next.
Vocabulary List:
- Volatility /ˌvɒl.əˈtɪl.ə.ti/ (noun): The quality of being subject to rapid and unexpected change.
- Recession /rɪˈsɛʃ.ən/ (noun): A period of temporary economic decline during which trade and industrial activity are reduced.
- Data /ˈdeɪtə/ (noun): Facts and statistics collected for reference or analysis.
- Concerns /kənˈsɜrnz/ (noun): Worries or anxieties about a situation.
- Economic /ˌiː.kəˈnɒm.ɪk/ (adjective): Relating to the production consumption and transfer of wealth.
- Deterioration /dɪˌtɪə.ri.əˈreɪ.ʃən/ (noun): The process of becoming progressively worse.
