Black Monday: global stock markets face unprecedented plunge

Today, global stock markets are experiencing a massive plunge, dubbed “Black Monday.” Investor panic is driven by rising geopolitical tensions, recession fears, persistent inflation, and aggressive interest rate hikes by central banks.

Key impacts:

• Major indices: The Dow Jones, S&P 500, and NASDAQ have all dropped over 10%.
• Technology: Tech giants like Apple, Amazon, and Google have seen significant stock price declines.
• Energy: ExxonMobil and Chevron are suffering due to falling oil prices.
• Financials: Banks face heavy losses amidst credit crunch fears.

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Investor response:

• Sell-offs: Investors are offloading stocks, deepening the decline.
• Flight to safety: There’s a shift towards gold, government bonds, and stable currencies.
• Trading halts: Some exchanges have paused trading to curb panic.

Analysts are divided on whether this is a short-term correction or indicative of deeper economic issues. Advisors recommend maintaining diversified portfolios and avoiding hasty decisions.