Over the last week:

Japan’s stock market posted its largest daily drop since 2020

US unemployment rate rises to 4.3%, highest in 3 years

Starbucks, SBUX, reports a 6% decline in store traffic

Intel, INTC, erases one third of its value in 1 day

Amazon, AMZN, falls on lower than expected revenue

10-year note yield falls 40+ basis points in 1 week

The ISM Manufacturing Index fell to 46.8, its lowest level since August 2023

How is this a “soft landing?”