Wall Street bloodbath: Dow, Nasdaq plummet as renewed recession fears trigger global sell-off

Wall Street’s main indexes nosedived on Monday, as fears of the United States tipping into recession following weak economic data last week rippled through global markets. NY Post reporter Ariel Zilber shares this story.

The blue-chip Dow Jones Industrial Index plunged more than 1,100 points after the opening bell, while the tech-heavy Nasdaq Composite fell nearly 5% after entering correction territory last week.

The declines followed broad sell-offs overseas, with the Tokyo-based Nikkei index suffering its worst single-day retreat since the infamous “Black Monday” crash of 1987 — closing 12.4% lower — while European stocks fell to near six-month lows.

The pan-European STOXX 600 index dropped 2.2% at 486.79 points, its lowest since Feb. 13.

#stockmarket #business #economy #recession

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[RefreshingShamrock]

Is this a joke? America has been in a recession for years. Haven't you seen all of the homeless people? Haven't you noticed the skyrocketing inflation, the cost of college, the price of a cheap starter home, the cost of groceries?

[maxy-spcn]

Global fears of a Kamala Harris presidency 🤔🤔🤔

[jeffhaynes]

We are starving because of Biden and Obama 1 pound of ham 10 bucks ty very much

[davidgoodnow]

_Cut_ interest rates?
Flaming _idiots!_ That's what got us in this mess: setting and leaving the interest rate _below_ the rate of _inflation!_

[endofdaysprophet]

Cut interest rates and save the wealthy or keep them high to help the poor??? You will lose either way!!! TFW

[Importantly-]

15, 000 Intel.. Silicone Valley 78, 000lose jobs..

[emmanuelboadi]

**KAMALA KRUSH!! **
Vote Trump 2024!!
Economy !!
NO TAX on Old Age Security
Benefits !
Immigration !!
Energy !!
World Peace!!
Low Inflation!!
Low Crimes!!

[petercristo]

There was a huge Tech run-up, then stock splits.

[ericsynchrona]

The reason Japan matters is because they are the first to see the sun during a new day. I'm not joking, that's how it works globally. In other words, if godzilla did a world tour then Japan would always be the first to 'see' him because they are effectively the first Time Zone on any given day.

[summergain]

The market is psychotic and schizophrenic. It reacts wildly to even the slightest stimuli. The fed has very few tools to affect the rate of inflation. Interest rates and to their ability, the amount of money available in the economy are kind of it. Raising interest rates has usually helped slow inflation by slowing individual and corporate borrowing. It didn't work as well this time because most of inflation was caused by supply chain problems followed by astonishing corporate greed. We are finally beginning to see some relief from inflation. That does not mean that prices have or even will return to pre pandemic levels. But the cost of housing has not really seen any relief yet and likely won't for a while until investors are more comfortable with these historically normal interest rates. The US is millions of housing units short and higher interest rates won't help that. Of course the greed and corruption in the realestate and housing industry also play a huge roll in the inflation of housing costs. Health care continues to skyrocket and interest rates have never had an impact on that. Since the pandemic, the American consumer has been on a whirlwind spending spree. We are finally seeing that slow down as debt levels have skyrocketed. Hopefully some consumer sanity will begin now. And perhaps the markets freakout will be shortlived. Keep in mind that the market has been at historic highs for a long time now. A correction is overdue.

[terrancebettencourt-inxg]

The Dow Jones is up big today sorry trumpers

[DanielLindsay-zw]

The rich always get richer and the rest of us….

[Cucumberflavoredmustard]

Wait a minute. I thought saying "bloodbath" made one a right wing extremist?