Had their worst days since 2022, restoring some confidence, better than expected economic data here in the united states. We will get that in some detail in a moment. Lets go to Nashville Tennessee and speal to david waddell, president and chief Investment Strategist at waddell associates. Welcome back to the show. Yesterday was the worst day in a year and a half or us markets. Now we have had time to sleep on it, what happened . Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than InfLation Report came out on the 10th ofjuly. From that point, it was down 16 . The Magnificent Seven were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the
Lets just show you how things have been trading on wall street. Khan to those numbers after a difficult day for investors. Calm returning that those members. David waddell is an Investment Strategist based in nashville tennessee. He told us in his view the big Tech Sell Off was long overdue and actually in some ways healthy. Well, it wasnt quite as bad as it appeared. The Magnificent Seven was down 6 of a cohort. They make up 3 of the index. The other a93 were only down 1 . This sell off was yesterday. It started when the lighter than Inflation Report came out on the 10th ofjuly. From that point, it was down 16 . The magnificents were down 10 . However, small cap stocks in the usa were up 10 in that period. You are seeing a Rotation Acting on the market, and it should be happening because we were very overbought going into mid july, we had levels which were the highest in the year for retail, and the highest since 2021 for professional investors. We had a lot of complacency. The vics h
China is continuing to brace itself as Typhoon Gaemi makes landfall on the mainland. More than 150,000 people in Fujian Province have been moved to safety, and the highest Tier Disaster Warning is in place. Officials in the philippines are attempting to contain an Oil Spill after a tanker sank in manila bay. More than A Million litres of oil was on the vessel. Rescued Crew Members say the captain had tried to return to land. We start in washington, where President Biden has been meeting Benjamin Netanyahu at the Oval Office amid ongoing protests during the israeli prime Ministers Trip to washington. Its the first meeting between the two since Mr Biden visited israel shortly after the hamas attacks on october the 7th. President biden is expected to put renewed pressure on the israeli Prime Minister to secure a Cease Fire Deal in gaza and to free the remaining hostages held by hamas. Lets hear what they had to say as their meeting began. Mr president , weve known Each Other for a0 years,
Inside a university in the russian city of perm, killing at least eight people before being detained. Several other people have been injured in the attack. A Murder InvestigatiOn is launched launched after four people are found dead at a house in derbyshire in england. A volcano has erupted On the Spanish Canary Island of La Palma forcing the evacuatiOn of some villages. A two kilometre wide ExclusiOn ZOne has been set up around the volcano. DominatiOn at the Emmy Awards for the crown it bags best drama. Olivia coleman is named Best Actess for her portrayal of the queen On a big night of british success. For the first time in its 108 year history, Chelsea Flower Show is being held in september and it is already filling up with celebrities, the World Media and royalty as well, and they are all here to see these spectacular gardens and we will show you them later. Hello and welcome if you re watching in The Uk or Around The World. The Uk Government is cOnsidering offering Emergency State