AI stocks have been volatile this year, causing concern among investors. Hedge fund manager Michael Burry warns major tech companies may be overvalued, sparking fears of a bubble burst. Americans still view stock market swings as indicators of a recession.
Homeownership remains key to Americans’ wealth, with 86.2 million homeowners having a median net worth of $369,200, while renters have a median net worth of $10,400. Majority of Americans’ wealth is tied to housing, but experts believe homeowners are in a stronger position than during the Great Recession. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling over 500 points. This was driven by concerns about inflation and rising interest rates, leading to investor uncertainty and selling pressure.
2. A new study has found that the COVID-19 vaccine is highly effective in preventing severe illness and death from the virus. The research showed that vaccinated individuals had a significantly lower risk of hospitalization compared to unvaccinated individuals.
3. In sports news, the Tokyo Olympics have officially begun with the opening ceremony taking place today. Athletes from around the world have gathered to compete in a wide range of sports, showcasing their talent and determination on the global stage.
4. The United Nations has issued a warning about the growing threat of climate change, highlighting the urgent need for action to mitigate its impact. The report emphasizes the importance of reducing greenhouse gas emissions and transitioning to renewable energy sources to protect the planet.
5. Tech giant Apple has announced a new feature that will allow users to add their driver’s license or state ID to their iPhones. This digital ID can be used for various purposes, such as boarding flights or entering secure locations, offering a convenient and secure alternative to physical IDs.
Read more at Yahoo Finance: The Great Recession 2.0? Experts Weigh In On The Possibility Of A Housing Market Crash If The AI Bubble Bursts