Stock Markets Crash Worldwide Over Fears of U.S. Recession
Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.
Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.
Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.