The German stock index DAX broke its 2007 record, as markets are showing signs that a global recovery is catching on. In New York, the DOW followed suit, ending the day at a new record high.
Wall Street's dismal performance has had profound knock-on effects on global markets. Analysts have warned that the downward spiral is likely due to tariff-related effects on US companies, citing rising basic costs.
As global stock markets hit a rocky patch, many are asking if such volatility is a harbinger of worse to come or if this is just a natural market correction. DW looks at some of the key issues shaping the turbulence.
Asian shares have jumped to three-week highs following a report that US President Donald Trump is aiming for a swift trade deal with China. The news came only days after Washington had threatened more punitive tariffs.
Pakistani shares have rallied after news that Islamabad's staunch ally, Saudi Arabia, had offered a huge rescue package for the economy. The shot in the arm comes as Pakistan faces a huge lack of currency reserves.
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