2.4% London FTSE 100 drop on Monday due to global market sell-off sparked by US job data and recession fears.
London's FTSE 100 fell 2.4% after opening on Monday, dropping 193 points to 7,982, marking its sharpest decline since July 2022. The sell-off follows a global market rout sparked by US job data, raising fears of a potential US recession. The Nikkei 225 in Japan experienced its worst day since 1987, with a 13% loss and a seven-month low. The decline comes as investors worry about the US Federal Reserve's decision-making, with concerns that the Fed may have made a mistake by not cutting interest rates and may now be too late to prevent a recession.
August 05, 2024
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