Week of August 12: Market Snapshot
Last week, U.S. stocks experienced a volatile week as the prior week’s selloff continued Monday before ending the week recovering most, but not all, of the lost ground.
The main drivers of the market swings were Monday’s sharp sell-off triggered by a global unwind of the yen carry trade, a surge in the VIX to the highest level since the pandemic, and fears of a recession signaled by an inverted yield curve and the Sahm/McKelvey rules triggering.