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During the opening of markets this Monday, August 5, Wall Street recorded a significant drop following the results of some of the main stock exchanges in Asia, as well as fears of a new global recession.
According to figures from Investingthe index Dow Jones lost almost 3%, Nasdaq 5.50% and S&P 500 4%this during the first exchanges on Wall Street, as bond rates fell, adding to a global fall in the main stock exchanges around the world.
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Given this fact, which significantly affected the New York stock exchange, experts named this day as a new “Black Monday”noting that this phenomenon could resemble the global crash that occurred in 1987 in global financial markets.
Following this, experts have begun to share the reasons why global markets registered these significant falls, some of them are: the fear of a possible recession in the United Statestensions in the Middle East over a possible Iranian invasion of Israel.
Other possible causes are the rise in the interest rates boosted by the Bank of Japana fact that strengthened the Yen significantly and caused the depreciation of other currencies such as the US dollar.
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The consequences of this speculation have also affected other markets, such as the cryptocurrency market, such as bitcoin and ethertwo of the main cryptocurrencies, have registered falls of 12% and 21% respectively, reaching levels not seen since the beginning of the year.
It is expected to see the behavior throughout the day on the main stock exchanges in Europe and on Wall Street to understand the impact it will have on the global economy, as well as the positioning of various currencies.
🇺🇸 | NOW: Wall Street extends losses: pic.twitter.com/sT86smoKDG
— Alerta News 24 (@AlertaNews24) August 5, 2024
(With information from AFP)
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2024-08-08 09:08:09