This time, the decline was caused by a combination of multiple negative factors.
First point: The number of employed people in the United States in July was 114,000, which was significantly lower than the expected 117,000. However, this non-agricultural data has always performed poorly, and it is nothing more than the difference between bad, very bad, and extremely bad, and the reference value is limited.
Second point: The unemployment rate announced on the evening of August 2 rose by 0.2 percentage points to 4.3% from the previous month, triggering the Sam rule, which is an alarm for economic recession.
Third point: The Bank of Japan began to raise interest rates. You know, the yen is a rather magical currency. Usually, the yen performs sluggishly, but as long as the world situation is turbulent, it will immediately go out of control.
Fourth point: As everyone knows, Berkshire Hathaway, owned by Buffett, released its second quarter financial report on August 3rd, showing that it reduced its holdings of Apple by 400 million shares, a 50% reduction, cashing out about $88 billion.
The above news combined has led to the entire market cashing out funds to avoid risks.