$6.4 trillion stock wipeout has traders fearing ‘Great Unwind’ is just starting
6/8/2024 6:13
The numbers flashing on trading screens on Monday were shocking even to market veterans.
In Tokyo, the Nikkei was down 12%. In Seoul, the Kospi sank 9%. And when the opening bell rang in New York, the Nasdaq plunged 6% in seconds. Cryptocurrencies sank; the VIX, a gauge of stock market volatility, skyrocketed; and investors piled into Treasury bonds, the safest asset of them all.
Source: Bloomberg
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