Global markets faced significant turmoil on \"Black Monday\" as fears of a potential recession in the United States led to sharp declines in major stock indices. The Dow Jones Industrial Average and S&P 500 dropped by 2.6% and 3.0% respectively, marking their worst performance since September 2022. The tech-heavy Nasdaq Composite wasn't spared, falling 3.43%.
The Asia-Pacific region also felt the impact, with Japan's Nikkei Index plummeting 12% and South Korea's KOSPI Index declining 9%. However, in a display of resilience, Asia-Pacific markets began to recover during Tuesday's open, regaining some of the losses from the previous day.
Reference(s):
cgtn.com
