S&P Global just released their economic survey for August, and it points to a global recession affecting the United States, Europe, Japan, and Australia. This economic news is bad for the Eurozone economy and United States economic. The last 3 times the world fell into a global recession, the US stock market crashed, and we could be headed for another stock market crash this time. Earnings warnings from companies that reported earnings on Tuesday backed up these fears as JD had their worst quarter in history, and both Macy’s and Nordstrom lowered year end guidance on fears of a slowdown in consumer spending. As all of that was happening, we got some interesting stock market news about Elon Musk buying Twitter.
