Global stock markets experienced a sharp decline on Friday and Monday, with major indices in India, the United States, and Japan taking significant hits.
A weaker-than-expected US employment report fueled concerns about a potential recession, sending shockwaves through financial markets worldwide. Despite the anticipation of interest rate cuts by the US Federal Reserve, investor sentiment has deteriorated.
India’s BSE Sensex plummeted by 2.71% or 2,222 points on Monday, closing at 78,759. The Nifty 50 also suffered a steep drop of 2.68%, ending the day at 24,055.
In the US, the Dow Jones Industrial Average tumbled 3.3% on Friday and continued its downward trajectory on Monday, reaching 38,648 by 6:40 PM Nepal time. The S&P 500 futures and Nasdaq 100 futures also faced significant losses, falling by 4.1% and 5.98% respectively during Monday’s trading.
The Japanese stock market was not spared, with the Nikkei index plunging 12.79% to 31,458.
These steep declines reflect growing investor anxiety about the global economic outlook and the possibility of a prolonged recession.
