Global economic recession concerns have caused the U.S. stock market to evaporate funds, second only to the 2022 COVID-19 pandemic.

Golden Finance reported that, according to wallstreetbets on X platform, due to increasing concerns about a global economic recession, more than $2.9 trillion has evaporated from the major stock indices and stock markets today (local time August 2). This is one of the worst days for the stock market since the COVID-19 pandemic in 2022.