Disaster on Wall Street, as this week’s markets opened with a dark twist on monday.
On Monday morning, the Dow Jones fell by almost 1,000 points, or 3%, while the S&P 500 was down by over 3% and the Nasdaq by 5%.
Japan's stock market suffers its biggest ever one-day points loss as a global sell-off intensifies following weak US jobs datahttps://t.co/sinITw0Rdm
— CNN (@CNN) August 5, 2024
Monday’s fall in US share prices was the third consecutive trading day with significant losses. Wall Street was first surprised by a jobs report revealing a sudden rise in unemployment to 4.3%.
On Monday morning, many stocks recorded heavy falls, according to Bloomberg. Amazon saw its share price fall by more than 7%, while Google lost more than 5% and Microsoft almost 5%. Meta and Apple also suffered heavy losses, falling by more or less 8% respectively.
Bitcoin was not spared, falling by almost 14%, and Nvidia shares also plunged by over 14%.
By international comparison, the turmoil on the stock markets is more pronounced in Japan than in the USA.
In fact, one of Japan’s main indices plunged by over 12% on one of the worst stock market days since 1987.
With this chaotic opening of the New York stock market, fears of a US recession persist, but many experts still consider the risks of such a situation to be low… for now.