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We start with the spreading market tailspin that’s giving investors cause for concern.
Financial markets around the world took a battering for a second straight day on Thursday as the mass sell-off continued.
The bloodbath started in Europe and spread to the United States later in the day.
After a wild couple of days,… the Dow Jones Industrial Average has now shed more than one-thousand points in just 48 hours.
Lee Seung-jae reports.
Markets continued to plummet on both sides of the Atlantic on Thursday.
In London, the FTSE 100 shed close to two percent.
Germany’s DAX finished down close to one-and-a-half percent,… while France’s CAC 40 lost one-point-nine percent.
The pan-European Stoxx 600 shed close to 2 percent,… with financial services and oil and gas stocks leading the losses.
A dramatic sell-off on Wall Street a day earlier prompted the European benchmark to fall to its lowest level in more than 21 months.
The tumble comes on the back of heightened fears about global economic growth and rising interest rates.
After flirting with gains early in the day, U.S. markets saw another day of dramatic losses on Thursday.
The Dow Jones Industrial Average tumbled more than two percent.
The tech-heavy NASDAQ ended the day down 1-point-25 percent.
The S&P 500 didn’t fare any better,… losing more than two percent.
Stocks have been stuck in the red because investors are growing increasingly concerned over rising interest rates.
As the Federal Reserve raises rates to prevent what it says would be runaway inflation,… investors have been getting out of bonds,… driving down their price,… and driving up their yields.
In turn,… the return on bonds has become competitive against some stocks,… especially risky tech stocks.
Meanwhile, U.S. President Donald Trump launched another criticism against the Federal Reserve on Thursday,… calling the Fed’s interest rate increase a “ridiculous” policy,… that was making it more expensive for his administration to finance its escalating deficits.
Lee Seung-jae, Arirang News.
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U.S., European stocks stumble hard again