Today's financial panic looks like the stock crash in 1987—when the economy avoided a recession, market veteran says
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Longtime market and economy watcher Ed Yardeni compares the current global equities selloff to the 1987 crash, but believes the economy will avoid a recession. Yardeni points to the internal dynamics of the market, including the unwinding of carry trades and bets on big US tech companies, as reasons for the current plunge in equities. He expects central banks to respond to the financial panic and provide liquidity, potentially through a 50 basis-point rate cut. Yardeni does not anticipate a recession, as he believes the labor market is still in good shape and the US economy is still growing.
#StockMarket #FinancialPanic #Recession #Equities #CarryTrade #CentralBanks #RateCut
https://fortune.com/2024/08/05/stock-market-crash-1987-recession-outlook-financial-panic-federal-reserve-rate-cuts-liquidity/
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