- cross-posted to:
- economics
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- cross-posted to:
- economics
- [email protected]
Stock markets across Europe and Asia slumped on Monday, spooked by fears that the US economy is heading for a slowdown.
In London, the FTSE 100 index fell by 2.1% lower while the Euronext 100 tumbled by 2.7%.
This followed sharp drops across Asia, with Japan’s Nikkei 225 plunging 12.4% or 4,451 points in the biggest fall by points in history.
It comes as weak jobs data in the US on Friday sparked concerns about the world’s largest economy.
Meanwhile, the yen has been strengthening against the US dollar since the Bank of Japan raised interest rates last week, making stocks in Tokyo more expensive for foreign investors.
Stock markets in Taiwan, South Korea, India, Australia, Hong Kong and Shanghai all tumbled.
imagine the horror if bussinesses had to think in terms of years when it came to making a profit. Its a crazy concept that would have the market going both up…and down.
But that one r*ddit sub told me they only go up!?
its like crashonomics. only go up but if you go down. go down hard.