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

Global Sell Off on Fears of U.S. Recession! MACRO NEWS STORY 1 Stock 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 2 The 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 3 Figures 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 4 City 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 2025 To receive my weekly tips visit www.sharepickers.com/tips PLEASE 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.