Dow drops 1,000 points, and Japanese stocks suffer worst crash since 1987 as markets quake worldwide

A currency trader works near a screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 5, 2024. The S&P 500 dropped 3% for its worst day in nearly two years. The Dow Jones Industrial Average reeled by 1,033 points, or 2.6%, while the Nasdaq composite slid 3.4%.

Goldman Sachs economist David Mericle sees a higher chance of a recession within the next 12 months following Friday’s jobs report. But he still sees only a 25% probability of that, up from 15%, in part “because the data look fine overall” and he does not “see major financial imbalances.” The only way for stocks to look less expensive is either for prices to fall or for their profits to strengthen. Expectations are still high for the latter, with growth for S&P 500 profits this past quarter looking to be the strongest since 2021.. Such a move helps boost the value of the Japanese yen, but it could also force traders to scramble out of deals where they borrowed money for virtually no cost in Japan and invested it elsewhere around the world.

Making things worse for Wall Street, Big Tech stocks tumbled as the market’s most popular trade for much of this year continued to unravel. Apple, Nvidia and a handful of other Big Tech stocks known as the “” had propelled the S&P 500 to record after record this year, even as high interest rates weighed down much of the rest of the stock market.

Wall Street has been concerned about how policies coming out of November could impact markets, but the sharp swings for stock prices could affect the election itself.

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.

Dow drops on US economy worries; Japanese stocks suffer worst crash since 1987The drops were just the latest in a sell-off that swept the Earth.
Source: wsfa12news - 🏆 338. / 59 Read more »

Dow drops 864 points, and Japanese stocks suffer worst crash since 1987 amid U.S. economy worriesNearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
Source: denverpost - 🏆 13. / 72 Read more »

Dow drops 760 points, and Japanese stocks suffer worst crash since 1987 amid U.S. economy worriesNearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
Source: mercnews - 🏆 88. / 68 Read more »

Dow drops 760 points, and Japanese stocks suffer worst crash since 1987 amid U.S. economy worriesNearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
Source: denverpost - 🏆 13. / 72 Read more »

Dow drops 860 points, and Japanese stocks suffer worst crash since 1987 on U.S. economy worriesNearly everything on Wall Street is tumbling as fear about a slowing U.S. economy worsens and sets off another sell-off around the world.
Source: nbcchicago - 🏆 545. / 51 Read more »

Dow drops 1,000 points, and Japanese stocks suffer worst crash since 1987 on U.S. economy worriesNearly everything on Wall Street is tumbling as fear about a slowing U.S. economy worsens and sets off another sell-off around the world.
Source: nbcsandiego - 🏆 524. / 51 Read more »