Global Markets Plunge Amid Rate Uncertainty

Global markets plummeted this week, with major indices like the S&P, Nasdaq, and Dow Jones dropping between 0.8% and 1.2%. International markets in Japan, South Korea, and Europe also saw declines, with Japans Nikkei index falling 3%. This market turbulence is largely due to a shift in the US interest rate outlook, with the probability of a December rate cut dropping from over 90% to around 40%. Tech and AI companies, which had previously driven market growth, were particularly impacted, with Nvidias share price falling 10%. Japan faced a challenging day, with its stock market, bonds, and currency all experiencing declines. Looking ahead, investors will watch upcoming economic data and Fed officials statements for clues about future interest rate decisions.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.