2638: Global Sell Off on Fears of U.S. Recession!

Global Sell Off on Fears of U.S. Recession!MACRO NEWSSTORY 1Stock indices around the world have slumped after weak manufacturing data and company earnings raised concerns that the US economy may be on its way to recession.STORY 2The new Labour government has shelved £1.3bn of funding promised by the Conservatives for tech and Artificial Intelligence (AI) projects according to the BBC.STORY 3Figures for retail footfall in the UK fell for a twelfth consecutive month as shoppers opted to spend on holidays and leisure rather than consumer goods.STORY 4City bosses have sounded the alarm on a hike in capital gains tax (CGT) today as Rachel Reeves rolls the turf for a sweeping round of tax raids at her first budget in October.MICRO NEWS- ADVFN #AFN is pleased to launch of ADVFN AI Intelligence- Kinovo Plc #KINO confirm that it has completed the build of the final outstanding legacy project- SkinBioTherapeutics #SBTX has raised £1.56m at 10.5p- XP Factory #XPF will release its results for the 15 months ended 31 March 2024 on 2 September 2024. The Group has traded in line with the board's expectations in the first quarter of the financial year to March 2025To receive my weekly tips visit www.sharepickers.com/tipsPLEASE DO YOUR OWN RESEARCH. NOTHING I WRITE IN THE BLOG SHOULD BE CONSIDERED AS INVESTMENT ADVICE OR AN ENDORSEMENT OF THE COMPANIES MENTIONED. I PERSONALLY HOLD A POSITION IN THIS COMPANY BUT I HAVE A DIVERSIFIED PORTFOLIO AND A STRATEGY THAT MANAGES MY RISK. ANY COMMENTARY SHOULD BE CONSIDERED SUBJECTIVE. THIS SHOULD BE THE STARTING POINT OF YOUR RESEARCH, NOT THE BE-ALL AND END-ALL.