logo
episode-header-image
Aug 2024
23m 32s

What Just Happened on Wall Street?

The New York Times
About this episode

Every major U.S. stock market plunged on Monday, wiping out billions of dollars in value.

Jeanna Smialek, who covers the U.S. economy for The Times, discusses what was behind the dizzying sell-off — and what it can tell us about whether America is headed for a recession.

Guest: Jeanna Smialek, a reporter covering the Federal Reserve and the U.S. economy for The New York Times.

Background reading: 

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

Up next
Today
Trump’s Top Aides Spread the Epstein Conspiracy. Now They Are Trying to Kill It.
For months, President Trump and Attorney General Pam Bondi suggested that they would expose the hidden, potentially sinister truth about Jeffrey Epstein’s death in 2019.But over the past few days, the Trump administrationWhite House decided to shut down has poured cold water on t ... Show More
21m 47s
Yesterday
A Love Letter to Camp Mystic
On Monday evening, the death toll from the flooding in Central Texas rose past 100. A single place accounted for 27 of those deaths: Camp Mystic, a century-old Christian summer camp for girls.Erin Paisan, who attended Camp Mystic, explains what the place meant to generations of g ... Show More
25m 9s
Jul 7
A Dark Moment for Journalism — and Devastation in Texas
Last week, when Paramount, the parent company of CBS News, announced a $16 million settlement with President Trump over editing of a segment of “60 Minutes,” many of the network’s journalists were furious.The deal also raised questions about the independence of CBS’s journalism, ... Show More
34m 15s
Recommended Episodes
Aug 2024
What the Wall Street crash means for rates
Global stock market turmoil this week saw spooked investors dumping billions of dollars in shares, before a rebound restored a lot of the value. There are jitters about the true value of surging stocks on Wall Street, the risk of a recession in the United States and interest rate ... Show More
14m 15s
Apr 3
US stock markets drop sharply
LONG The White House has urged investors to trust in Donald Trump as Wall Street continues a global sell-off in response to his tariff announcement. The Dow Jones index is down more than three percent, the dollar has fallen and oil prices have slipped. Shares prices in Europe and ... Show More
47m 29s
Apr 10
Markets Plummet as Tariff-War Woes Fuel Exodus From US Assets
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Less than 24 hours after President Donald Trump backtracked on his once-in-a-century trade war to prevent a meltdown in financial markets, frantic selloffs hit US stocks, bonds and the dollar yet again as fears ... Show More
39m 34s
Apr 2022
U.S. Stocks Rally on Strong Start to Earnings Season
The major U.S. equity indexes were all up more than 1% late in Monday’s regular trading session, with the tech-heavy Nasdaq Composite leading the way with a 1.85% gain. Stocks today seem to reflect a strong start to earnings reporting season. According to Bloomberg, 38 of the 48 ... Show More
39m 8s
Aug 2024
Instant Reaction: Will the Fed Cut Quicker After This Selloff?
Global stock markets tumbled as concerns about a US economic slowdown intensified. Traders ramped up bets that the Federal Reserve will step in with an emergency interest rate cut. For instant reaction to this selloff, and how Fed officials will respond, Bloomberg's Nathan Hager ... Show More
6m 6s
Apr 23
Lessons from the recent US Treasuries sell-off
Markets shook after US President Donald Trump announced his so-called reciprocal tariffs earlier this month. But there was one market in particular that got investors particularly worried: Treasuries. What’s usually a safe haven asset suddenly saw huge sell-offs. Trump managed to ... Show More
18m 21s
Aug 2024
What the Stock Market Panic Says About the Economy
Slow job growth in the U.S. and interest rate cuts in Japan triggered a global stock market sell off on Monday. WSJ’s Nick Timiraos breaks down how it happened, what it says about the economy, and what it means for the Federal Reserve’s long-term goal of a soft landing. Further L ... Show More
18m 9s
Aug 2024
As stock market crashes, is US facing new financial crisis? Economist Michael Hudson explains
The stock market crashed on August 5, in a new "Black Monday". What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility, AI / Big Tech bubble, Japanese yen carry trade unwind, Chinese eco ... Show More
1h 26m
Oct 2024
10-10-24 Rising Volatility, China Stimulus, & Storms' Economic Surge - What They Mean For Portfolios
All was not hunky-dory in the recent Fed meeting, as the FOMC Meeting minutes reveal a split-decision on lowering rates by 50-bps vs 25-bps. Meanwhile, in the markets, the S&P is having its Best Year Ever since the "turn of the century." The current, rising wedge is both a bullis ... Show More
46m 29s