In a fear of global recession, the stock markets crashed big across the world. The huge crash in the United States of America, Europe, Asia, and other regions caused investors to lose more than 100 lakh crores in just two days.
The Sensex and Nifty 50 have seen a plunge over 3% in intraday trade on Monday. The European market including FTSE 100, DAX, and CAC 40, also have seen major declines of more than 3%. The Nikkei 225 and Shanghai Composite in Asia also have seen a big dip due to the fear of global recession.
The Dow Jones Industrial Average went down by more than 1200 points and obviously saw substantial declines in NASDAQ and S&P 500.
Economic experts attribute today’s crash to escalating inflation rates, stricter monetary policies implemented by central banks, and heightened geopolitical tensions in critical regions. Due to the crash, retirement accounts, savings, and investments are at extended risk.
Consumers are advised to be keen with their decisions on financial strategies because more economic challenges are expected.
This post was last modified on 5 August 2024 10:16 pm
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