Misery loves company - and beleaguered US stocks soon found fellow sufferers elsewhere in the world. Asian indices received a thrashing Tuesday - and dismal futures ahead of the Dow Jones opening could mean the beating is not over yet.
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.
Wall Street ended the day Tuesday, with solid gains after a rollercoaster ride that saw losses halved from Mondays plunge. Markets in Asia were down seven percent but regained momentum to close down 4.7 percent.
The US Dow Jones stock index plunged 4.6 percent Monday, in its biggest one-day percentage loss since 2011. The selloff has wiped off all its gains since the start of 2018. Asia shares have also been down sharply.
Global markets continue to wobble precariously. European markets took a big hit on Tuesday, following major losses across Asia and particularly in Japan. Wall Street steadied after a torrid opening.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version