As Markets Rock, a Reporter Stays Steady

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When the U.S. stock market opened on Monday morning, so too did the floodgates of anxiety over an economic slowdown.

The volatile moment stemmed from a complicated confluence of factors. The strength of the Japanese yen had spiked days earlier, causing ripple effects in other markets. A U.S. employment report released on Friday showed a slowing job market. And investors panicked, worried that the Federal Reserve had waited too long to cut interest rates.

A stock sell-off ensued, resulting in the sharpest daily decline of the S&P 500 since September 2022. And though Wall Street had steadied by Tuesday, uncertainty lingers.

Joe Rennison, who reports on the financial markets for The New York Times and has covered the beat for more than a decade, was on vacation in the Catskills in upstate New York, with limited cellphone service, when the news began to break. He returned to New York City on Saturday to closely follow the market, make calls to sources and decipher it all for Times readers.

In an interview, Mr. Rennison shared how he reported on the fast-moving markets, and why it’s so important to contextualize the moment and not, as he said, “over-egg things.” This interview has been edited and condensed.

When did you start to notice fluctuations in the market?

I was meant to be on holiday until this week. Two weeks ago, we’d written a story setting up what was coming, because it was going to be a big week for central bank meetings, economic data. Those things could shift the backdrop for financial markets. Before I left, I flagged to editors that if things flared up, I would find a signal and be able to chip in.