Stocks Crash in Biggest One-Day Drop Ever as Global Market Rout Intensifies
Japanese stocks experienced their biggest daily loss ever on Monday, August 5. Fears of a US crash have begun to ramp up.
The Nikkei 225 index of leading stocks in Tokyo went down by 4,451 points. It’s the biggest drop in history. The index has closed more than 12% down. That takes its losses since early July to 25%, entering bear market territory.
Japanese Stocks Crash in Biggest One-Day Drop Ever
"That was a crash. It smelled like 1987," Neil Newman, head of strategy at Astris Advisory stated to CNN. Neeman was referring to "Black Monday" in October 1987, when global markets plunged and the Nikkei lost 3,836 points.The dow is set to open 1,000 points lower. Wall Street’s “fear gauge” - the CBOE Volatility Index - reached its highest level since the COVID-19 pandemic.
Stock markets around the world react at as U.S. recession worries mount. How much of this is triggered by the thought of Kamala Harris being elected President?