Warren Buffett's decision to sell stocks and raise record cash before sell-off sends wake-up call

📆 6/8/2024 1:48 am
📰 CNBC

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Many Buffett watchers view the accelerated sale of his top holdings as a pessimistic call on the markets as well as the economy.

Warren Buffett is looking quite prescient as global equity markets plunged after it was revealed over the weekend that the investing legend dumped a lot in stock, including half of his Apple stake , and raised an unprecedented cash fortress for Berkshire Hathaway in the second quarter.

S. would skirt a recession while squashing inflation. That expectation was called into question with a weaker-than-expected July jobs report. The global markets fell into a deep rout on Monday as concerns about an economic slowdown deepened. The Dow Jones Industrial Average tumbled 1,000 points at one point, while Japan's Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash for Wall Street.

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