Japan's benchmark Nikkei 225 stock index plunged 12.4% on Monday in the latest bout of selloffs that are shaking world markets as investors fret over the state of the U.S. economy. The Nikkei closed down 4,451.28 points at 31,458.42. The market's broader TOPIX index fell 12.8% as selling picked up in the afternoon.European markets plummeted when trading began Monday following the massive selloffs in Asia.
stock indexes had jumped to their best day in months after Federal Reserve Chair Jerome Powell gave the clearest indication yet that inflation has slowed enough for cuts to rates to begin in September.Now, worries are rising the Fed may have kept its main interest rate at a two-decade high for too long, raising risks of a recession in the world's largest economy. A rate cut would make it easier for U.S.
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