Global Stock Markets Tumble Amid US Recession Fears
Japan's Nikkei 225 Crashes Over 12%
Tokyo, August 4, 2024 (AP) - Global markets were sent into a tailspin on Monday as worries about the US economy and rising interest rates triggered a steep sell-off in stock markets around the world.
US Stock Futures Tumble
In overnight trading, US stock futures fell sharply, indicating a potentially significant drop at the opening bell. The volatility spread to other markets in Asia and Europe, with Japanese stocks plummeting on Friday.
Dow Jones and S&P 500 Dive
By 2 pm Eastern time, the Dow Jones Industrial Average had shed more than 900 points, or 2.4 percent, while the broader S&P 500 erased 2.8 percent. The sell-off marked a continuation of last week's losses, which saw the Dow Jones drop over 1,000 points.
Nikkei 225 Plunges
In Japan, the Nikkei 225 share index plunged more than 12% on Monday, marking its biggest one-day decline in over a decade. Investors were jittery about the impact of slowing US growth on Japanese exports and the potential for further interest rate hikes.
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