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US Markets Morning Update - 2026-08-24

August 24, 2026
US Markets Morning Update - 2026-08-24
Markets
Quant hedge funds suffered their worst day in two years due to Bessent's intervention in the bond market.

Good morning NYC. Key highlights for 2026-08-24:

  • Quant hedge funds suffered their worst day in two years due to Bessent's intervention in the bond market.
  • Trump suggested military intervention to lower interest rates, sparking debate on unconventional economic strategies.
  • Nvidia is acquiring AI startup Poolside for $6B and in talks to buy Korean chip designer Rebellions.
  • US public debt surpassed $40 trillion, contributing to rising mortgage rates and a sluggish housing market.
  • Canada imposed 50% tariffs on US goods after failed trade talks, signaling a potential long-term trade war.

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