Huge $6.4 Trillion Global Stock Market Meltdown Could Be Just The Start, Traders Fear
- Huge $6.4 Trillion Global Stock Market Meltdown Could Be Just The Start, Traders Fear
by Daniel Jones, Consumer Editor For Dailymail.Com and Alice Wright For Dailymail.Com, https://www.dailymail.co.uk/
A scary Monday that started with a plunge abroad reminiscent of 1987’s crash swept around the world and pummelled Wall Street with more steep losses. It came as fears worsened about a slowing US economy. The S&P 500 dropped 3 percent for its worst day in nearly two years. The Dow Jones reeled by 1,033 points, or 2.6 percent, while the Nasdaq composite slid 3.4 percent. All investors were hit by the sell-off – from everyday Americans to Warren Buffett, the famed investor, who saw $15 billion wiped off his fortune.
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Wall Street has worst day since 2022 as fear of US economic slowdown deepens
Wall Street fell the most in nearly two years, continuing a global rout in financial markets, as fear worsens that the US economy is slowing down. The S&P 500 fell 3 percent by the end of trading on Monday. The Dow Jones Industrial Average dropped more than 1,000 points, and the Nasdaq composite slid 3.4 percent.
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It followed a 12.4 percent plunge for Japan’s Nikkei 225, its worst day since 1987. Worries over the economy are front and centre after a series of disappointing reports, including a weaker-than-expected jobs report on Friday. Big Tech stocks, which have led the market to record after record this year, bore the brunt of the selling.
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