Asia Stocks Plunge $800B; Consumer Credit Stress at 2008 Levels
Over $800 billion was wiped from Asian markets in a deepening AI sell-off, while US credit card serious delinquencies hit 13% — the worst since the Great Recession.
What we know
Coin Bureau reports $800B wiped from Asia's stock market as the AI sell-off deepened. Simultaneously, US credit card delinquency (90+ days past due) has surged to 13% — the worst level since peak Great Recession distress, with 1 in 10 Americans now in default on credit card loans. Together these paint a stressed macro backdrop.
How the story developed
Over $800 billion was wiped from Asian markets in a deepening AI sell-off, while US credit card serious delinquencies hit 13% — the worst since the Great Recession.
Credit card serious delinquency rates have hit 13% — the worst since the 2008 Great Recession — as banks claw back credit limits and consumer discretionary spending deteriorates.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.