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The US market on Monday posted its biggest daily drop since October 2020, Bloomberg wrote. Monday was also the worst day since October for the Dow Jones index, which tracks the 30 largest public companies in the US, The Wall Street Journal wrote.
The Nasdaq Composite index (major US technology companies) was losing 3.08% at the same time and was down to 14,578.5 points. For this index, Monday was the worst day since May, Reuters noted.
In turn, the Cboe volatility index, also known as the fear index, hit a four-month high.
European and Asian markets also fell on Monday. The Stoxx Europe 600 index, which includes the region's largest companies, closed with a 1.67 percent decline, falling to a two-month low, Bloomberg noted. Hong Kong's Hang Seng Index fell 3.3 per cent.
Among the reasons for the drop in markets, experts call investor fears over the bankruptcy risks of China's largest real estate developer, Evergrande. The company has accumulated more than $300bn in debt and last week acknowledged the likelihood of a default on its debts.
source: reuters.com
The Nasdaq Composite index (major US technology companies) was losing 3.08% at the same time and was down to 14,578.5 points. For this index, Monday was the worst day since May, Reuters noted.
In turn, the Cboe volatility index, also known as the fear index, hit a four-month high.
European and Asian markets also fell on Monday. The Stoxx Europe 600 index, which includes the region's largest companies, closed with a 1.67 percent decline, falling to a two-month low, Bloomberg noted. Hong Kong's Hang Seng Index fell 3.3 per cent.
Among the reasons for the drop in markets, experts call investor fears over the bankruptcy risks of China's largest real estate developer, Evergrande. The company has accumulated more than $300bn in debt and last week acknowledged the likelihood of a default on its debts.
source: reuters.com