Morning Report 05 Aug 24: Growth fears haunt Wall Street

Wall Street falls as investor fears shifted towards a slowing economy, with US recession concerns affecting the ASX. Technology stocks are under pressure as investors worry about the AI runway, and the NASDAQ has entered correction territory following weak US jobs reports. The ASX is set to open sharply lower, with oil prices hitting an eight-month low. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.