On August 5, fears of a US recession triggered a global market rout, causing significant losses. The Dow Jones and S&P 500 both fell over 2%, while the tech-heavy Nasdaq dropped 2.8%. This trajectory could mark the Dow's first 1,000-point decline since September 2022.
Tokyo's Nikkei experienced its worst day in 13 years, plummeting over 12% and shedding 4,451.28 points. Major European indices also fell by 1.5-2%. Investors await comments from Fed officials on potential interest rate cuts to calm market nerves.