Friday’s jobs report set the weekend off on the wrong foot, and now most of the global markets look like they’re shaking off an epic hangover this Monday.
Add global socio-political conflict in the Middle East and poor earnings among tech and consumer-facing companies to the mix and you have a fully boiling pot, as Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, explained in a note on Monday. Seemingly unbeatable tech stocks have floundered; Japan saw its worst market day in decades after raising its interest rates last week, and U.S. markets saw their worst plunge since 2022. In short, a lot is happening—perhaps too much for the beleaguered consumer.
