New york: US stock markets experienced a decline, with the Dow Jones Industrial Average falling by 1.56% to 46,677.85 points, the SandP 500 index dropping by 1.52% to 6,672.62 points, and the NYSE Composite index decreasing by 1.64% to 22,118.7 points. The technology-heavy Nasdaq Composite index also fell by 1.78% to 22,311.98 points. Canada’s SandP/TSX Composite index showed a decline of 0.84% to 32,840.6 points.
According to Azeri-Press News Agency, European markets followed suit with the Euro Stoxx 50 index dropping by 0.79% to 5,748.89 points. The UK’s FTSE 100, Germany’s DAX, France’s CAC 40, and Spain’s IBEX 35 indices also witnessed declines, with falls of 0.47%, 0.21%, 0.71%, and 1.22% respectively, indicating widespread cautious sentiment among investors.
In the Asia-Pacific region, Japan’s Nikkei 225 index dropped by 1.38% to 53,701.26 points, alongside a 0.74% fall in the TOPIX index to 3,622.67 points. Hong Kong’s Hang Seng Index and China’s CSI 300 index saw declines of 0.48% and 0.02% respectively, while Australia’s SandP/ASX 200 index fell by 0.11% to 8,619.80 points.
Analysts attribute the negative dynamics in global stock markets to investor caution amid uncertainty regarding monetary policy, expectations of prolonged high interest rates by central banks, and increasing risks related to global economic growth. Additionally, increased selling in the technology sector and a shift from risky assets to safer instruments have further contributed to the decline in indices.