New York Post
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Wall Street bloodbath: Dow, Nasdaq plummet as renewed recession fears trigger global sell-off
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August 5, 2024
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1:47Now PlayingWall Street’s main indexes nosedived on Monday, as fears of the United States tipping into recession following weak economic data last week rippled through global markets. NY Post reporter Ariel Zilber shares this story.
The blue-chip Dow Jones Industrial Index plunged more than 1,100 points after the opening bell, while the tech-heavy Nasdaq Composite fell nearly 5% after entering correction territory last week.
The declines followed broad sell-offs overseas, with the Tokyo-based Nikkei index suffering its worst single-day retreat since the infamous “Black Monday” crash of 1987 — closing 12.4% lower — while European stocks fell to near six-month lows.
The pan-European STOXX 600 index dropped 2.2% at 486.79 points, its lowest since Feb. 13.
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#stockmarket #business #economy #recession
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