Aug 06, 2024 05:20 PM

THE WALL STREET JOURNAL

Unraveling Trades Fuel Global Market Rout

By Ryan Dezember

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The changes in major stock market indexes show in a window in Times Square in New York on Monday. Photo: VCG

The changes in major stock market indexes show in a window in Times Square in New York on Monday. Photo: VCG

(The Wall Street Journal) — The unwinding of some of Wall Street’s most popular trades intensified Monday, sending Japanese stocks to their worst day since the 1987 market crash and walloping U.S. technology shares.

U.S. stock indexes opened sharply lower, tracing declines in international markets, before recovering somewhat after a survey of purchasing managers showed the services sector expanded last month at a slightly higher rate than expected.

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