Good Evening. Monday was yet another losing session for U.S. markets, as the S&P 500 closed at a new low for 2022 and the Dow Jones officially entered a bear market. As fears of excessive Fed tightening and a wild run on currency markets unnerve investors, the stock market seemed prepared for additional volatility this week.
The S&P 500 fell 1.03%, while the Dow lost 1.10%. The Nasdaq Composite declined 0.60%, erasing an earlier gain of more than 1%.
AMC MAY SELL APE?
At the end of closing, the aggregate value of AMC Entertainment Holdings Inc. and its APE subsidiaries declined by 14.39%.
The theater company disclosed to the SEC that it might sell 425 million AMC Preferred Equity Units or APEs. The corporation stated that it would utilize any sale revenues to repay debt or make additional investments. With the assistance of meme investors, the corporation raised billions of dollars during the pandemic to stabilize its faltering finances.
The total value of APE units and AMC shares has decreased by approximately 40% since the units were issued. On August 19, AMC shares closed at $18.02 per. On Monday, the total value of AMC shares and APE units was around $10.79.
ALL TIMES HIGHS AND LOWS

The British pound fell to an all-time low against the dollar on Monday, as investors feared that Britain’s new economic plan would harm the country’s finances. Meanwhile, the Bank of England stated that it was monitoring the financial markets “very closely” in response to sharp asset price fluctuations.
Against a basket of six peer currencies, the dollar touched a two-decade high, aided by the collapse of the pound and a new 20-year low for the euro.
During Asian trading, the pound plunged as much as 4.9% to a record low of $1.0327, adding to Friday’s 3.6% drop on the release of new Finance Minister Kwasi Kwarteng’s historic tax cuts, which were supported by the largest rise in borrowing since 1972. The value of British government bonds plummeted.
However, the pound had largely recovered from its overnight losses as traders speculated the BoE might take emergency action to halt the currency’s decline. But… the pound fell again after BoE Governor Andrew Bailey stated that the central bank was monitoring the markets but did not signal immediate action.