Yesterday turned out to be another Black Friday for the stock market investors of the whole world. The selling spree that started from Wall Street in America continued to dampen the spirits of the market till Europe. In this way, the great rally of the stock markets came to an end and the investors had to bear heavy losses.
Such was the fall in the American stock market
On Friday, a huge fall of about two and a half percent was recorded in the major American indices on Wall Street. The major index of the American stock market, Dow Jones Industrial Average, fell by 610.71 points i.e. 1.51 percent and closed at 39,737.26 points. Whereas, a fall of 1.84 percent was seen in the S&P500. Tech stock focused index Nasdaq Composite fell by 2.43 percent to 16,776.16 points.
Europe’s stock market also fell
The storm of selling that started from Wall Street also engulfed the European markets. In Europe, the FTSE 100 index fell by 108.65 points (1.31 percent) to 8,174.71 points. The CAC 40 index saw a fall of 118.65 points (1.61 percent) and closed at 7,251.80 points. On the other hand, DAX saw the maximum fall of 2.33 percent. It fell by more than 421 points and closed at 17,661.22 points.
Indian market had fallen this much yesterday
On Friday, the domestic stock market also fell heavily. The BSE Sensex closed at 80,981.95 points, down 885.59 points or 1.08 per cent. At the same time, the Nifty fell 293.20 points (1.17 per cent) to 24,717.70 points. Today, the Nifty has fallen 87 points in futures trading.
Investors scared of the threat of recession in America
The US economy is being blamed for this massive fall in stock markets around the world. Some recently released figures are presenting a worrying picture of the US economy. The unemployment rate in the US has reached 4.3 percent. This is the highest unemployment figure in the US since October 2021. The market was afraid of an increase in unemployment, but no one anticipated such an increase. With unemployment rising wildly, there is again a fear that the US economy may go into recession. This fear forced investors to sell in stock markets across the world.
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