Stock markets in the United States and Europe tumbled on Monday over fears of a U.S. economic recession and mounting global tensions.
The three major U.S. stock indices opened sharply lower, with the technology-heavy Nasdaq Composite Index shedding more than 6 percent, the Dow Jones Industrial average falling more than 3 percent and the Standard and Poor's 500 Composite slumping 3.3 percent.
At the close of trading, the Nasdaq Composite dropped 3.43 percent, while the Dow Jones Industrial Average fell 2.60 percent, and the Standard and Poor's 500 index was down 3 percent.
It came after recent U.S. economic indicators missed expectations, with the non-farm sector adding jobs at a slower rate in July than anticipated, unemployment rate for the month nudging upwards, and new orders for manufactured goods in June falling by 3.3 percent, following a month-on-month decline of 0.5 percent in May, according to data from the Department of Commerce.
In Europe, the three major stock indices opened down on Monday with Britain's FTSE 100 Index falling 2.85 percent, the Paris CAC 40 by 2.76 percent, and Germany's DAX Index by 3.43 percent.
Elsewhere in Türkiye, trading on the Istanbul stock market was suspended twice the same day after significant losses triggered a market-wide circuit breaker. It came as concerns about a potential U.S. recession shook global financial markets and investor sentiment soured on the rising tensions in the Middle East.
Major stocks in US, Europe tumble
Major stocks in US, Europe tumble
Major stocks in US, Europe tumble
