Good evening.
Markets tumble, Bitcoin falls back to $20,000, and recession fears hit an all time high.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks tumbled on Tuesday following disappointing consumer data.
As the second quarter comes to an end on Thursday, there are rising fears about an economic slowdown.
Google searches for "recession" in the U.S. recently hit an all time high:
Investors rebalancing their portfolios ahead of Q3 could also be contributing to market volatility.
The crypto market fell on Tuesday, with Bitcoin drifting back down toward $20,000 and trading in sync with stocks.
Catch Up
The S&P 500 is on track for its worst first-half performance since 1970, down nearly 20% this year.
Ghislaine Maxwell was sentenced to 20 years in prison on Tuesday.
Prominent crypto hedge fund Three Arrows Capital has defaulted on a loan worth more than $670 million.