Monday saw a sharp decline in U.S. stock futures as part of a sell-off in global markets driven by worries of a U.S. recession.
In what was its worst day since Wall Street’s Black Monday fall in 1987, Japan’s Nikkei 225 fell 12%.
Here is the current status of U.S. stock market futures:
Following Friday’s 1.8% decline in the benchmark, S&P 500 futures are down 3.3%.
Big tech stocks were heavily hammered in early trading, resulting in a 4.8% loss for Nasdaq-100 futures.
Futures for the Dow Jones Industrial Average fell 912 points, or 2.3%, after losing 611 points on Friday.
Following Friday’s dismal July jobs report, the main cause of the worldwide market meltdown was fears of a U.S. recession.
Concerns among investors also exist over the Federal Reserve’s tardiness in lowering interest rates to support an economic downturn, and last week the central bank decided to maintain rates at their highest level in 20 years instead.
Source (CNBC)
