Underneath the U.S. stock market's resiliences is a deep fear that a currently unknown variable will tank the market.
Here's the latest headlines to know:
Stocks finished sharply lower Monday, August 12, as fears of a global recession from the U.S.-China trade war weighed on Wall Street, while falling bond yields and Hong Kong protests impacted sentiment.
The Dow, which lost as much as 462 points, ended Monday's session down 391 points, or 1.49%, to 25,896, the S&P 500 declined 1.23% and the Nasdaq was off 1.2%.
The yield on the 10-year Treasury note has fallen a steep 35 basis points in August 2019.
In our Ask the Expert series, Hillary Kramer, founder and chief investment officer of Kramer Capital Research, broke down what the market's biggest fear is:
"The market's biggest irrational fear is that something will happen that will wreck the market and then all of the trading will start to unwind and you will see unwinding bene unwinding and selling bring us down into the double-digit level. That's the market's fear. Everyone wants to be away from the party once the punch bowl is empty."
- Hillary Kramer
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