- Tech stocks erase around $3 trillion as volatility spikes up
- More investors fear a ‘Fed mistake’ and are bidding up hedges
- With Friday’s poor labor data underscoring the risk of an economic downturn ahead, the bond market flashed an unambiguous warning that Jerome Powell’s restrictive monetary stance now risks a policy error.
- July’s jobs report had one of the weakest showings since the pandemic, just as US manufacturing activity contracted by most in eight months.
- ETF tracking Treasuries rose nearly 6% on the week.
- Wall Street’s “fear gauge” — the VIX — soared toward its highest level since 2022 at one point in Friday trading, approaching 30
