Stocks hammered by US recession fears

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 19 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 92%

Stocks News

Hammered,By,US

HONG KONG — Tokyo led a collapse across Asian and European equities Monday, after weak US jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.

HONG KONG — Tokyo led a collapse across Asian and European equities Monday, after weak US jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.Trading boards showed a sea of red following another hefty day of losses on Wall Street, where heavyweight tech firms, including Amazon and Microsoft, took the brunt over worries an AI-fuelled rally this year may have been overdone.

But the pain was not reserved only for the tech sector, with Toyota shedding 13.65 percent and HSBC off more than 5 percent.Bitcoin dived more than 10 percent as cryptocurrencies were also hammered.Markets are 'still reeling from last Friday's seismic shifts in the global financial landscape,' said Stephen Innes in his Dark Side Of The Boom newsletter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tokyo stocks plunge 7% after US fallsTOKYO — Tokyo stocks fell more than seven percent in early trade on Monday, weighed down by a resurgent yen and poor US jobs data that fueled recession fears.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Hong Kong to expand market reach in H2HONG KONG: Hong Kong will continue to expand its market reach in the second half of this year to deepen ties with investors in Europe, the United States, Australia and the Middle East, Hong Kong Special Administrative Region Financial Secretary Paul Chan said Sunday.
Source: TheManilaTimes - 🏆 2. / 92 Read more »