Latest news for SDX Energy (OTC:SDXEF) Stock

SDX Energy PLC is a Canadian company that is engaged in the exploration, development, and production of oil and gas. Its current activities are located in the Arab Republic of Egypt and the Kingdom of Morocco, It derives revenue from Morocco.

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Stocks That Hit 52-Week Lows On Friday

SDX Energy PLC

CrowdStrike Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) is facing legal action <a href="https://www.benzinga.com/news/24/07/39915506/delta-air-lines-needs-more-recovery-time-after-crowdstrike-outage-flight-disruptions-to-extend-2-mor">from air travelers</a> affected by a massive global computer outage last month.
What Happened: On Monday, three passengers filed a proposed class action lawsuit against the cybersecurity company in the federal court in Austin, Texas, reported Reuters.
The plaintiffs allege that CrowdStrike was negligent&nbsp;in testing and deploying its&nbsp;software, which led to the outage, affecting air travel, banks, hospitals, and emergency lines worldwide.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40145004/crypto-industry-to-meet-with-white-house-officials-even-as-trump-promises-to-reverse-biden?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto Industry To Meet With White House Officials, Even As Trump Promises To Reverse Biden Administration's Crackdown On Bitcoin, Ethereum And Other Cryptocurrencies</a>
The lawsuit claims that the outage forced passengers to incur additional costs for accommodation, meals, and alternative travel. Some even missed work or experienced health issues due to sleeping on airport floors, the report said.
The plaintiffs are seeking compensatory and punitive damages from CrowdStrike.
&#8220;We believe this case lacks merit and we will vigorously defend the company,&#8221; CrowdStrike said in a statement to Reuters.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The outage, which affected over 8 million computers, was due to a flawed software update.&nbsp;
Previously, Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) also expressed its intention to take <a href="https://www.benzinga.com/news/24/07/40047547/delta-seeks-damages-from-microsoft-crowdstrike-after-major-system-outage">legal action against CrowdStrike</a>. Delta CEO, Ed Bastian, publicly criticized Microsoft&#8217;s platform <a href="https://www.benzinga.com/news/24/08/40124678/delta-air-lines-ceo-calls-microsoft-most-fragile-platform-after-crowdstrike-outage-causes-500m-loss">for its &#8220;fragility,&#8221; while</a> praising Apple for its stability.
In response to Delta&#8217;s decision to pursue damages, CrowdStrike claimed that the airline <a href="https://www.benzinga.com/news/24/08/40152392/delta-will-have-to-explain-why-it-didnt-take-responsibility-security-companys-lawyers-fireback-at-te">did not respond to their offer</a> of help during the outage. According to the cybersecurity firm, CrowdStrike CEO George Kurtz personally reached out to Delta&#8217;s CEO but received no response.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40149959/nvidia-faces-doj-probe-bidens-semiconductor-rule-microsofts-copilot-success-metas-llama-3-1-this-wee?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Faces DOJ Probe, Biden&#8217;s Semiconductor Rule, Microsoft&#8217;s Copilot Success, Meta&#8217;s Llama 3.1: This Week In AI</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Legal

Tech

Media

CRWD

CrowdStrike Hit With Lawsuit Over Global Outage Impacting Air Travel, Plaintiffs Say Cybersecurity Firm Should Pay Compensatory And Punitive Damages

Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) is set to release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/YUM/earnings">opening bell on Aug. 6, 2024.</a>
Analysts expect the Parsippany, Louisville, Kentucky-based company to report quarterly earnings at $1.33 per share, down from $1.41 per share in the year-ago period. Yum! Brands is projected to report quarterly revenue of $1.8 billion, compared to $1.75 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On May 15, Yum! Brands declared a quarterly dividend of 67 cents per share and announced an authorization of up to $2.0 billion in share repurchases.
Yum! Brands shares fell 1.4% to close at $133.32 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings </a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/YUM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Stifel analyst Chris O'Cull maintained a Hold rating and cut the price target from $135 to $130 on July 22. This analyst has an accuracy rate of 76%.</li>
<li>Morgan Stanley analyst John Glass maintained an Overweight rating and slashed the price target from $155 to $153 on July 16. This analyst has an accuracy rate of 67%.</li>
<li>Deutsche Bank analyst Lauren Silberman maintained a Hold rating and cut the price target from $148 to $143 on July 16. This analyst has an accuracy rate of 70%.</li>
<li>Evercore ISI Group analyst Matt McGinley downgraded the stock from Outperform to In-Line and cut the price target from $160 to $145 on July 16. This analyst has an accuracy rate of 71%.</li>
<li>JP Morgan analyst John Ivankoe maintained a Neutral rating and increased the price target from $132 to $140 on June 3. This analyst has an accuracy rate of 73%.</li>
</ul>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40165522/top-3-tech-stocks-that-could-surge-this-quarter">Top 3 Tech Stocks That Could Surge This Quarter</a></li>
</ul>

Earnings

Price Target

Analyst Ratings

Yum! Brands Likely To Report Lower Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

For the&nbsp;third quarter&nbsp;of 2024, the Company expects revenue in a range of $215million to $235million. Non-GAAP operating margin is expected in a range of&nbsp;-1%&nbsp;to&nbsp;+3%.

Guidance

ADTN

ADTRAN For Q3 Expects Revenue Of $215M-$235M Vs. $225.875M Consensus; And Adj. Operating Margin Of -1% To +3%

Macro Economic Events

Econ #s

Economics

Germany Factory Orders (MoM) For June 3.9% Vs. 0.4% Est.; -1.6% Prior

WKEY

WISeKey Secures WebTrust Compliance Renewal For OISTE/WISeKey Global Root Of Trust

Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) CEO Alex Karp issued a stark warning about potential conflicts in the Middle East, in the <a href="https://www.benzinga.com/news/earnings/24/08/40172453/palantir-q2-earnings-revenue-beat-eps-beat-customer-count-up-41-driven-by-strength-in-us-commercial">second-quarter earnings call</a>.
What Happened: Karp warned of a possible escalation of conflicts in the Middle East, emphasizing the company&#8217;s commitment to supporting U.S. interests in the region.
&#8220;The world is on the precipice of what could be a very severe set of violent interactions in the Middle East,&#8221; Karp said.
&#8220;It goes without saying that at Palantir, we know where we stand and we are very much supporting America and its allies in the Middle East, including Israel,&#8221; Karp said. 
The company, known for its data analytics software used by government agencies and large corporations, has positioned itself as a key player in national security and defense.
While Karp did not disclose specific details of Palantir&#8217;s involvement in Middle Eastern affairs, the company has <a href="https://www.benzinga.com/news/24/02/36947512/palantir-ai-technology-being-leveraged-maximally-to-support-key-us-government-goals-in-middle-east-s">previously acknowledged its work</a> with various defense and intelligence agencies. 
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40147514/defector-says-donald-trumps-return-to-white-house-would-be-once-in-a-thousand-year-chance-for-no?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Defector Says Donald Trump&#8217;s Return To White House Would Be &#8216;Once-In-A-Thousand-Year Chance&#8217; For North Korea</a>
Why It Matters: Palantir&#8217;s warning comes amid a backdrop of escalating tensions in the Middle East. Recently, Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) saw a surge in overnight trading on Monday due to increased U.S. <a href="https://www.benzinga.com/markets/equities/24/08/40153647/lockheed-martin-up-nearly-4-in-overnight-trading-amid-escalating-tensions-in-middle-east-and-glo">military presence in the region</a>. This move is seen as a defensive measure to de-escalate tensions.
Additionally, the potential for an <a href="https://www.benzinga.com/government/24/08/40164105/potential-iranian-attack-on-israel-could-rattle-markets-what-happened-to-stocks-when-russia-invaded">Iranian attack on Israel</a> has been highlighted by Secretary of State Antony Blinken, who warned G7 countries of possible retaliatory actions following recent assassinations of key figures in Hamas and Hezbollah. This situation mirrors the market disruptions seen during the Russia-Ukraine conflict.
Palantir&#8217;s AI technology has been instrumental in supporting U.S. government goals in the Middle East. Earlier this year, Shyam Sankar, Palantir&#8217;s Chief Technology Officer, emphasized the company&#8217;s AI-enabled platforms&#8217; role in aiding U.S. allies, <a href="https://www.benzinga.com/news/24/02/36947512/palantir-ai-technology-being-leveraged-maximally-to-support-key-us-government-goals-in-middle-east-s">particularly in Israel</a>. These platforms, including Gaia and Gotham Foundry, have been leveraged for various military and intelligence applications.
Price Action: Palantir closed at $24.09 on Monday, down 2.63% for the day. However, in after-hours trading, the stock surged by 12.16%. Year to date, Palantir stock has gained 45.30%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152445/trumps-bold-plan-to-use-bitcoin-to-wipe-out-35t-us-debt-questioned-by-economist-justin-wol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Bold Plan To Use Bitcoin To &#8216;Wipe Out&#8217; $35T US Debt Questioned By Economist Justin Wolfers: &#8216;That&#8217;s Not How Crypto Works&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

PLTR

Palantir CEO Alex Karp Warns Of Severe 'Violent Interactions' In Middle East, Reaffirms Support For Israel — Stock Surges Over 12% In After-Hours Trading

<ul>
<li>Files voluntary Chapter 11 petitions to effectuate the proposed transaction</li>
<li>Intends to operate Blue Raven Solar and New Homes through the Chapter 11 process</li>
<li>Pursues value-maximizing sale transactions for remaining assets</li>
</ul>
&nbsp;

CSLR

SPWR

Reported Earlier, SunPower Announces $45M Asset Sale To Complete Solaria, Files Chapter 11 To Maximize Asset Value

For July 2024, the total number of terminal passengers at GAP&#39;s 12 Mexican airports decreased by&nbsp;4.9%, compared to July 2023. Tijuana, Los Cabos, and Puerto Vallarta airports presented a decrease in passenger traffic of&nbsp;7.9%,&nbsp;5.8%, and&nbsp;3.3%, respectively, compared to July 2023. On the other hand, Montego Bay presented a decrease in passenger traffic of&nbsp;13.7%.

Reported Earlier, Grupo Aeroportuario del Pacifico July 2024 Passenger Traffic Decreased 5.6% Compared To 2023

The reverse stock split is expected to become effective at 12:01 a.m. Eastern Time&nbsp;on&nbsp;August 16, 2024.

Reported Earlier, Genius Group Announces 1-For-10 Reverse Stock Split To Comply With NYSE Minimum Price Requirement

Adtran (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) reported quarterly losses of $(0.24) per share which missed the analyst consensus estimate of $(0.09) by 166.67 percent. The company reported quarterly sales of $225.991 million which beat the analyst consensus estimate of $225.875 million by 0.05 percent. This is a 30.97 percent decrease over sales of $327.378 million the same period last year.

Earnings Beats

Earnings Misses

Adtran Q2 2024 Adj. EPS $(0.24) Misses $(0.09) Estimate, Sales $225.991M Beat $225.875M Estimate

Claudia Sahm, the economist who invented the Sahm Rule, has contradicted claims of a recession in the U.S. economy. This comes amid mounting fears of a recession due to <a href="https://www.benzinga.com/markets/24/08/40168342/us-services-activity-returns-to-growth-in-july-global-market-selloff-stalls-are-recession-fears-over">recent market instability</a>.
What Happened: Sahm, who is known for developing the Sahm Rule, a key indicator used to predict the onset of a recession, has stated that she does not believe the U.S. economy is in a recession. This assertion follows a period of economic uncertainty and market volatility.
&#8220;I do not think the U.S. economy is in recession,&#8221; Sahm said, in an <a href="https://www.youtube.com/watch?v=4p3nXvFcS0g&amp;t=1047s">interview</a> with The Compound. She emphasized that the current economic cycle is unusual, and the traditional indicators may not be accurately reflecting the situation.
Most analysts define a recession as two consecutive quarters of decline in real GDP. Sahm noted that while there was a GDP decline in the first half of 2022, it did not result in a recession.
These comments come in the wake of recent market turmoil, which has sparked concerns <a href="https://www.benzinga.com/markets/equities/24/08/40176966/japan-markets-us-futures-recover-after-historic-plunge-supported-amid-strong-service-sector-and-">about a potential recession</a>. The turmoil was driven by a slight increase in U.S. unemployment and significant drops in key indices, such as Japan&#8217;s Nikkei 225 on Monday. 
However, the Japanese&nbsp;<a href="https://www.benzinga.com/markets/equities/24/08/40176966/japan-markets-us-futures-recover-after-historic-plunge-supported-amid-strong-service-sector-and-" target="_blank" rel="noreferrer noopener">stock market significantly recovered</a>&nbsp;on Tuesday&nbsp;following a historic plunge, with other Asia-Pacific markets also showing signs of improvement.
See Also: <a href="https://www.benzinga.com/news/earnings/24/08/40128529/wall-street-set-to-tumble-as-macro-concerns-return-vix-spikes-and-global-markets-sell-off-safe-have?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Wall Street Set To Tumble As Macro Concerns Return, VIX Spikes And Global Markets Sell Off: Safe-Haven Gold Rises To Record High As Traders Eye July Jobs Data</a>
Why It Matters: Her remarks also follow a recent challenge to the Sahm Rule by Federal Reserve Chair Jerome Powell, who <a href="https://www.benzinga.com/news/24/07/40088882/fed-chair-jerome-powells-stance-on-sahm-rule-challenged-by-recession-indicators-developer-claudia-sa">dismissed the rule</a> during a press conference after the Federal Reserve&#8217;s policy meeting. Powell&#8217;s stance was in contrast to Sahm&#8217;s call for immediate action to address inflation.
The debate over whether the U.S. is in a recession has been ongoing, with notable economists weighing in. Recently, Paul Krugman highlighted potential <a href="https://www.benzinga.com/news/24/07/40062132/paul-krugman-warns-of-pre-recession-signals-says-sahm-rule-is-currently-sending-the-right-cautionary">pre-recessionary signals</a>, pointing to the Sahm Rule as a key indicator. Krugman emphasized that the rule is sending a &#8220;cautionary message&#8221; about the U.S. economy&#8217;s health.
Meanwhile, U.S. services activity returned to growth in July, potentially easing recession fears. The ISM Services PMI rose to 51.4%, indicating expansion, while the S&amp;P Global Composite PMI also showed positive signs, <a href="https://www.benzinga.com/markets/24/08/40168342/us-services-activity-returns-to-growth-in-july-global-market-selloff-stalls-are-recession-fears-over">albeit at a slower pace</a>. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/08/40095631/researchers-identify-trump-dump-effect-ex-president-is-already-causing-deep-stock-losses-in-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Researchers Identify &#8216;Trump Dump&#8217; Effect: Ex-President Is Already Causing Deep Stock Losses In Companies And Industries He Targets</a>
Image via Dall-E
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

'I Do Not Think The US Economy Is In Recession:' Sahm Rule Creator Refutes Claims Amid Market Turmoil

Australia Interest Rate Decision For August Unchanged At 4.35%

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan 10-Year JGB Auction 0.926% Vs. 1.091% Prior

Reported Earlier, Japan Building Approvals (MoM) For June -6.5% Vs. -6.5% Est.; 5.5% Prior

Reported Earlier, Japan Household Spending (YoY) For June -1.4% Vs. -0.9% Est.; -1.8% Prior

Reported Earlier, Japan Household Spending (MoM) For June 0.1% Vs. 0.2% Est.; -0.3% Prior

Reported Earlier, U.K. BRC Retail Sales Monitor (YoY) For July 0.3% Vs. 0.3% Est.; -0.5% Prior

On Monday, significant declines hit U.S. and Japanese markets due to concerns over a slowing U.S. economy, sparking a global sell-off. The Dow Jones Industrial Average fell 2.6%, one of its largest single-day drops, while the S&amp;P 500 and Nasdaq Composite also faced substantial losses. Japanese stocks experienced their biggest one-day drop since 1987, with the Nikkei 225 index plunging over 12%. The downturn was intensified by falling oil prices and increased expectations of a Federal Reserve rate cut at its next meeting.
On the day, the Dow Jones Industrial Average closed at 38,703.27, down 2.6%. The Nasdaq fell 3.4% to 16,200.08, and the S&amp;P 500 decreased 3% to finish at 5,186.33.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s shares fell by 2.63% to close at $24.09. The stock&#8217;s intraday high and low were $24.42 and $21.23, respectively, with a 52-week range of $29.83 to $13.68. The company reported <a href="https://www.benzinga.com/news/earnings/24/08/40172453/palantir-q2-earnings-revenue-beat-eps-beat-customer-count-up-41-driven-by-strength-in-us-commercial">second-quarter revenue</a> of $678.13M (+27% YoY), beating estimates, with adjusted earnings of 9 cents per share, and raised its full-year revenue outlook to $2.742B-$2.75B, driven by strong commercial and government demand for AI systems.
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)
Alphabet&#8217;s Class A stock declined by 4.45% to close at $159.25, while the company&#8217;s Class C shares fell by 4.6% to $160.64. A federal judge ruled that Alphabet&#8217;s payments to make its search engine the default option on smartphone web browsers <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">violates U.S. antitrust law</a>.
See Also: <a href="https://www.benzinga.com/markets/asia/24/08/40154197/trump-says-kamala-doesnt-have-a-clue-biden-is-sound-asleep-as-stock-markets-crash-globally-i-told-yo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Says &#8216;Kamala Doesn&#8217;t Have A Clue. Biden Is Sound Asleep&#8217; As Stock Markets Crash Globally: &#8216;I Told You So!!!&#8217;</a>
Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s shares plunged by 6.36% to close at $100.45. The intraday high and low were $103.41 and $90.69, respectively, with a 52-week range of $195.95 to $39.23. The company&#8217;s shares dropped amid rumors of a <a href="https://www.benzinga.com/markets/equities/24/08/40156506/nvidia-plunges-nearly-10-to-sub-100-level-leading-other-semiconductor-stocks-lower-in-premarket-">delay in its next-gen Blackwell accelerators.</a>
Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
AMD&#8217;s shares rose by 1.75% to close at $134.82. The intraday high and low were $139.14 and $121.83, respectively, with a 52-week range of $227.3 to $93.12. The company&#8217;s shares rebounded after a <a href="https://www.benzinga.com/news/24/08/40170023/amd-shares-rebound-whats-going-on">morning selloff</a> in chip stocks.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares fell by 4.23% to close at $198.88. The intraday high and low were $203.88 and $182, respectively, with a 52-week range of $278.97 to $138.8. The company&#8217;s shares dropped due to <a href="https://www.benzinga.com/news/24/08/40168600/tesla-shares-are-falling-today-what-you-need-to-know">broader market weakness</a> and concerns about a potential U.S. economic slowdown.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Photo by Jirapong Manustrong on Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152336/shiba-inu-lead-developer-shytoshi-kusama-nods-to-crypto-analysts-sentiment-on-selling-amid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Lead Developer Shytoshi Kusama Nods To Crypto Analysts&#8217; Sentiment On Selling Amid Market Crash: &#8216;They Really Want Your Cheap Crypto&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

GOOG

GOOGL

NVDA

TSLA

Palantir, Google-Parent Alphabet, Nvidia, AMD, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Mohamed El-Erian, the Chief Economic Advisor at Allianz, has proposed a potential solution to the ongoing market turmoil.
What Happened: Drawing a parallel to the popular game show &#8220;Family Feud,&#8221; El-Erian shared what he believes the responses would be if 100 market participants were surveyed.
He suggested that the disorderly market selloff is due to concerns over U.S. growth, fears of another Federal Reserve policy error, poor market technicals, geopolitical tensions, and domestic politics.
As for the best circuit breaker, he proposed a 50 basis points September cut by the Fed, an emergency Fed cut, Fed verbal intervention, market bottom fishing, and administration verbal intervention. El-Erian wrote, &#8220;I would agree with the first and debate the second.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For those who remember the game show Family Feud, here is what I think the screens would look like in response to 100 market participants being surveyed and asked&#8230; What is behind the disorderly market selloff and What is the best circuit breaker? (I would agree with the… <a href="https://t.co/MlCKSp5F2K">pic.twitter.com/MlCKSp5F2K</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1820451578081399111?ref_src=twsrc%5Etfw">August 5, 2024</a></blockquote>
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El-Erian&#8217;s comments come amid a global market selloff, which has been a <a href="https://www.benzinga.com/markets/equities/24/08/40152271/mohamed-el-erian-grant-cardone-and-matt-weller-warn-of-deepening-global-market-selloff-as-yen-ri">cause for concern</a>. The selloff, which began in the U.S., has now spread to Japan, causing a significant drop in the Nikkei 225 and Topix on Monday. 
El-Erian had <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40154562/fed-may-be-bullied-into-50-bps-cut-in-september-says-mohamed-el-erian-as-global-mar">previously suggested</a> that the Federal Reserve might be &#8220;bullied&#8221; into a 50 basis points cut in September. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152028/bitcoin-falls-below-53k-mark-as-global-financial-markets-continue-to-bleed-peter-schiff-wa?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Falls Below $53K Mark As Global Financial Markets Continue To Bleed — Peter Schiff Warns Ominously: &#8216;You Guys Are Whistling Past A Crypto Graveyard&#8217;</a>
Why It Matters: The global stock market selloff has been a major concern for investors and analysts. The situation has led to significant losses in various markets, including Japan. However, there have been <a href="https://www.benzinga.com/markets/equities/24/08/40176966/japan-markets-us-futures-recover-after-historic-plunge-supported-amid-strong-service-sector-and-">signs of recovery</a> Tuesday, with the Japanese stock market significantly bouncing back after a historic plunge. This recovery has been supported by strong service sector and employment data from Tokyo.
On Monday a global sell-off of stocks and other assets pulled <a href="https://www.benzinga.com/news/24/08/40169330/nvidia-microsoft-apple-amazon-erase-1-1-trillion-in-monday-sell-off-bubble-burst-or-market-correctio">markets towards bear territory</a>. A slight uptick in U.S. unemployment, published on Friday, reignited fears of a recession that rippled across the globe. Some indices saw historical drops, including Japan&#8217;s Nikkei 225 stock index, which dropped more than 13.4% at its lowest point on Monday.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/08/40152088/elon-musk-says-warren-buffett-is-clearly-expecting-a-correction-after-berkshire-sold-nearly-half-of?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is &#8216;Clearly Expecting A Correction&#8217; After Berkshire Sold Nearly Half Of Its Apple Stock</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Mohamed El-Erian Recreates A 'Family Feud' Like Screen To Identify Circuit For Disorderly Market Selloff: Here Are The Two Triggers He Picked

Nobel laureate and renowned economist Paul Krugman poked fun at Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) store of value narrative after the cryptocurrency witnessed one of its steepest drops in years.
What Happened: On Monday, Krugman quoted financial journalist and Bloomberg TV host Joe Wisenthal&#8217;s Bloomberg&#8217;s Joe Weisenthal post questioning King Crypto&#8217;s long-endorsed &#8220;digital gold&#8221; thesis. 
&#8220;Bitcoin doesn't look like the new gold. It looks like 3 tech stocks in a trenchcoat," Weisental stated, underscoring the growing correlation between Bitcoin and traditional risk assets, particularly technology stocks.
Adding his own twist, the 2008 Nobel Economics Prize winner wrote, &#8220;I like this line from Joe Weisenthal. But if you think about it, it's an Nvidious comparison,&#8221; a deliberate wordplay to equate Bitcoin&#8217;s volatility with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), the stock that has become the barometer of sentiment in technology stocks.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I like this line from Joe Weisenthal. But if you think about it, it's an Nvidious comparison (rimshot) <a href="https://t.co/Cagv3Ha7lF">pic.twitter.com/Cagv3Ha7lF</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1820569384781508951?ref_src=twsrc%5Etfw">August 5, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40176950/trump-says-government-shouldnt-be-selling-bitcoin-crypto-is-like-ai-if-we-dont-build-it-ch">Trump Says Government Shouldn&#8217;t Be Selling Bitcoin: &#8216;Crypto Is Like AI, If We Don&#8217;t Build It, China Will&#8217;</a>
Why It Matters: This is not the first time Krugman has criticized Bitcoin. Just last week, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40060902/paul-krugman-slams-trumps-bitcoin-advocacy-nobel-laureate-calls-it-government-bailout-of-a">described the cryptocurrency as &#8220;economically useless&#8221;</a> and criticized former President Donald Trump&#8217;s support for the asset class.
Notably, presidential hopeful Trump recently advocated for a national Bitcoin stockpile, a move Krugman labeled a &#8220;government bailout&#8221; of a scandal-ridden, value and environment-destroying industry. 
Krugman famously said after the collapse of the cryptocurrency exchange&nbsp;FTX&nbsp;in December 2022 that the "black swan" event&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/12/29951283/why-this-nobel-prize-winning-economist-says-crypto-could-be-entering-an-endless-winter" target="_blank" rel="noreferrer noopener">could be the beginning of the end</a>&nbsp;for the cryptocurrency industry and the very idea of a blockchain.
Price Action: At the time of writing, Bitcoin was trading at $55,791.75, up 2.55% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of Nvidia ended 6.36% down at $100.45 after Monday&#8217;s regular trading session.
Photo via Shutterstock
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40168139/crypto-carnage-is-bitcoins-store-of-value-thesis-now-invalidated">Crypto Carnage: Is Bitcoin&#8217;s Store Of Value Thesis Now Invalidated?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Paul Krugman Ridicules Bitcoin's Store Of Value Narrative, Nobel Winning Economist Makes A Cheeky Comparison With Nvidia

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