Categories: Uncategorized

Global Markets Plunge Amid US Economic Concerns

Global financial markets experienced a sharp decline on Monday, as concerns over a potential US economic slowdown triggered widespread sell-offs.

Asian markets were particularly hard-hit, with Japan’s Nikkei Index plummeting by 10%, South Korea’s KOSPI dropping over 8%, and Taiwan’s TAIEX falling by 4.43%.

Jakarta’s Composite Index fell nearly 2%, while Hong Kong’s Hang Seng and Shanghai Composite dropped 1.43% and 0.83%, respectively.

Yonhap News Agency reported that intense market volatility prompted a five-minute halt in trading on South Korea’s KOSPI 200 index.

In the US, stock markets fell for a second consecutive session on Friday.

The Dow Jones Industrial Average declined by 1.51%, and the Nasdaq Composite saw a 2.43% drop.

A disappointing jobs report heightened investor concerns, suggesting that the world’s largest economy might be heading towards a recession.

Indian stock markets also opened sharply lower on Monday. By 11 AM, the BSE Sensex was at 78,798, down 2,183 points or 2.70%, while the NSE Nifty was at 24,061, a decline of 657 points or 2.66%.

Santosh Meena, Head of Research at Swastika Investmart, attributed the market downturn to a confluence of negative factors.

Meena stated, “The global market is under significant pressure due to a mix of troubling news. Initial fears of a reverse Yen carry trade, prompted by an interest rate hike in Japan, were exacerbated by worries of a US recession following poor job data.”

Other experts noted that expectations of a soft landing for the US economy had driven the global stock market rally.

However, the disappointing July job numbers and a rise in the US unemployment rate to 4.3% have undermined these expectations.

Additionally, ongoing geopolitical tensions in the Middle East are contributing to the negative market sentiment.

As markets navigate these turbulent conditions, investors remain on edge, closely monitoring economic indicators and global developments.

Also Read: Indian Markets Plunge Amid Global Sell-Off Concerns

Mankrit Kaur

Recent Posts

Zelensky, Trump Hold Talks In Rome Ahead Of Pope’s Funeral; Discuss Ceasefire & Peace

US President Donald Trump and Ukrainian President Volodymyr Zelensky met in Rome on Saturday ahead…

28 mins ago

Pahalgam Terror Attack: Ishan Educational Institutions Organises Protest Against Terrorism

Ishan Educational Institutions, Greater Noida, today organised a peaceful protest march condemning the recent terror…

1 hour ago

Complete Ban On Drone Flights Over Noida International Airport ‘Red Zone’

Authorities have imposed a complete ban on the operation of drones and UAVs over and…

2 hours ago

Pak Army Chief Munir Revives Two-Nation Theory Amid Tensions With India

Pakistan Army Chief General Syed Asim Munir reignited controversy on Saturday by invoking the two-nation…

2 hours ago

Pope Francis Funeral: President Murmu & PM Modi Pay Final Tributes

Pope Francis, the first Latin American pontiff, was laid to rest in a humble ceremony…

4 hours ago

Man Arrested For Raping Six-Year-Old Girl In Bihar’s Vaishali District

The Bihar police have taken swift action in arresting a man accused of raping a…

4 hours ago