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on the spot with Michelle mccy is brought to you by Swan Bitcoin hello Iamp;#39;m Michelle mccy thank you for joining us a global market meltdown red across the board the Samp;amp;P 500 closing over 3% low I.E raising $1.4 trillion of market cap today posting its worst day since September of 2022 the Samp;amp;P 500 is now just one .4% away from correction territory the NASDAQ 100 is already in correction territory now fears of a US recession were one of the main drivers of the selloff after Fridayamp;#39;s disappointing July jobs report they concerns that the Federal Reserve may have waited too long to cut rates off holding steady at the last meeting keeping rates at their highest level now in 23 years and Japanamp;#39;s stock market also posting its worst drop since wall Streetamp;#39;s black Mond day in 1987 the unwinding of the Yen carry trade following the bank of Japanamp;#39;s interest rate hikes also a very big culprit in the sell we here to give us some insight a