The global market plunge struck the U.S. as stocks fell sharply after opening, sparking reactions amid the 2024 election.
Anxiety over a potential slowdown in the U.S. economy intensified on Monday as Wall Street and international exchanges saw sharp declines, sparking reactions from the 2024 presidential election candidates.
Global shares began collapsing at the end of last week when investors grew alarmed at the prospect of a U.S. recession. A U.S. Labor Department report released on Friday showed American employers added 114,000 jobs, a significant drop from the 179,000 in June.
On Monday, the global market plunge struck the U.S., as American stocks fell sharply after opening as the Dow Jones index plummeted more than 1,030 points, or 2.6 percent. Warnings have emerged that tech giants like Apple and Nvidia might be overvalued. On Friday, the Nasdaq composite entered a correction phase, marking a 10 percent decline from its recent high and continued to drop by an additional 3.4 percent on Monday.
This arrives among concerns that the Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a U.
