Wall Street tumbles as fears about slowing US economy worsens amid global market turmoil

Nearly everything on Wall Street tumbled on Monday as fears about a slowing US economy worsen and set off another sell-off for financial markets around the world.

The S&P 500 was down by 2.4% in midday trading and on track for its worst day since 2022.

The Dow Jones Industrial Average was reeling by 864 points, or 2.2%, and the Nasdaq composite slid 2.7%.

The drops were just the latest in a global sell-off that began last week.

The FTSE 100 suffered its worst session of the year, with London’s top index finishing 166.48 points, or 2.04%, lower to end the day at 8,008.23.

Japan’s Nikkei 225 helped start Monday by plunging 12.4% for its worst day since the Black Monday crash of 1987.

It was the first chance for traders in Tokyo to react to Friday’s report showing US employers slowed their hiring last month by much more than economists expected.

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