Asian Markets Plunge Amid US Recession Fears; Japanese Stocks Hit New Low | Subscribe to Firstpost

Asian Markets Plunge Amid US Recession Fears; Japanese Stocks Hit New Low | Subscribe to Firstpost

Asian Markets Plunge Amid US Recession Fears; Japanese Stocks Hit New Low | Subscribe to Firstpost

Asian stock markets plunged on August 5 as recession fears in the US led investors to flee risk assets, sending Japanese stocks to the path of a new single-day rout since October 1987. Japan’s Nikkei fell 10%, while South Korea’s KOSPI dropped 5.9%, prompting trading curbs. Meanwhile, the yen rose as a safe-haven asset as global markets reacted to economic uncertainties and shifting interest rate expectations in the US. Investors were spooked by the latest US job data, which showed a slowdown in hiring in July, heightening concerns that the economy may be heading into recession.

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