China’s economic meltdown:
Traders worry that weakness in the world’s second largest economy could affect the global outlook. China’s consumer spending, factory production and investment in fixed assets all slowed further in July from a year ago.
Russia and Ukraine’s impact on inflation:
Heightened geopolitical tensions threaten to raise food and oil prices across the globe. Russia’s invasion of Ukraine continues to stoke fears of increased commodity prices, global economic instability and uncertainty around security.
US economy is slowing down:
US economy is still showing signs of a slowdown. Shoppers have tightened their purse strings in the face of higher prices and borrowing costs, focusing on paying for necessities like groceries over discretionary purchases like clothing or home improvements.
Banks remain a quiet risk:
Fears of contagion still exist around the regional banking crisis in March: Burry’s fund is also getting out of its shares in a number of regional banks.
Big banks could also be in hot water: Bank shares fell on Monday following reports that Fitch Ratings warned of an additional downgrade of the US banking industry that could affect the ratings of several large American lenders.
Reference:
CNN