Amid growing concerns about a slowdown in the growth of the American economy, there was a collapse in the stock markets of the United Kingdom and Europe.
Writes UNN with reference to VS and ZDF.
Renewed fears of an economic crisis in the United States and fears of an escalation in the Middle East have caused panic in stock markets. In the US, the S&P 500 index fell 4.1%, while the tech-heavy Nasdaq fell 6.3%. In London, the FTSE 100 index fell 2.8%. Earlier, Asian markets fell, Japan's Nikkei 225 fell by 12.4% or 4,451 points, which was the largest drop in points in history. Germany's leading index, the Dax, fell for the third time in a row on Monday. In May, the stock market barometer reached a record high of 18,893 points, but now the increase since the beginning of the year has decreased to a few meager percent.
According to the BBC, it is "concerns about the US economy" that can scare markets around the world.
There have also been concerns that stocks of technology companies, such as those focused on artificial intelligence (AI), have been overvalued and are now facing difficulties.
Intel announced major layoffs last week, as well as disappointing financial results.
There are suggestions that its competitor Nvidia, which manufactures AI chips, will postpone its latest launch.
Berkshire Hathaway, the firm of American investor Warren Buffett, has announced that it has sold about half of its stake in the technology giant Apple.
The US Nasdaq index, which contains a large number of technology companies, reached an all-time high last month, but fell by about 10% last week in a so-called "correction.
Enthusiasm for the topic of artificial intelligence has cooled, says Jochen Stanzl, market analyst at CMC Markets trading house.
The growth of AI requires huge costs, reducing company profits and suddenly making high stock valuations excessive. – said the specialist.
Энергетический кризис в Европе закончился, считает руководитель Shell01.08.2024, 17:57
According to Stanz, the restrictive monetary policy of the European Central Bank and the US Federal Reserve System is now having an effect.
The sharp drop in US stock prices on Friday followed disappointing data on unemployment figures.
In July, American employers created 114,000 new jobs, which turned out to be much less than expected, and the unemployment rate rose from 4.1% to 4.3%.
These data have raised fears that the long-term employment boom in the United States may be coming to an end.
This has sparked speculation about when and to what extent the Federal Reserve will cut interest rates.
Скептики ИИ замолкнут: инвесторы намекают о впечатляющих доходах Nvidia19.07.2024, 17:38