Dow Jones falls 900 points and Japanese stocks plunge
Dow Jones Drops 900 Points; Japanese Stocks Plummet. Here we tell you all the details about this news that shocked the world.
2024-08-06T13:41:47+00:00- Dow Jones Drops 900 Points.
- Japanese Stocks Plummet.
- A major shake-up in the financial market.
International financial markets faced a significant shake-up on Monday, with the Dow Jones Industrial Average recording a drop of 956 points, equivalent to 2.4%, while the Nasdaq index plunged 4%.
The drop on Wall Street comes amid growing fears of an economic slowdown in the United States.
The S&P 500 index also suffered a significant decline of 3.1% in early trading, marking the worst week in over three months.
The collapse on Wall Street added to a series of losses in international markets, reflecting growing concern about the health of the U.S. economy.
Dow Jones Drops 900 Points and Japanese Stocks Plummet
In Japan, the Nikkei 225 index experienced a dramatic drop of 12.4%, the worst since the infamous «Black Monday» of 1987.
This plunge occurred after traders in Tokyo reacted to Friday’s report revealing an unexpectedly large slowdown in U.S. hiring last month.
Weak employment data in the U.S. have intensified fears that the Federal Reserve has been too aggressive in applying high interest rates to control inflation.
The losses spread worldwide.
A hard hit for Japanese stocks
South Korea’s Kospi index plunged 8.8%, European stock markets fell more than 2%, and the price of Bitcoin dropped 9.5%.
The magnitude of the declines reflects the global impact of economic uncertainty in the U.S. and concerns about ongoing monetary policies.
This widespread crash in financial markets highlights the growing unease among investors about the future of the global economy.
In addition to the potential repercussions of monetary policy decisions on international economies.