Global stocks plunge after tech-driven sell-off and US growth fears
The global sell-off on stock markets deepened as US jobless figures hit a three-year high. The unemployment rate rose to 4.3%, up from 4.1% and its highest level since October 2021.
ADVERTISEMENTGlobal stock markets were in a sea of red on Friday as risk-off sentiment prevails following the Bank of Japan’s (BOJ) rate hike, coupled with softened US economic data and disappointing tech earnings.
The Federal Reserve (Fed) maintained the current interest rate this week, but markets suspected it might be behind the curve in lowering rates, potentially causing further economic slowdown.
Investors shifted funds to safe-haven assets such as the Japanese yen, gold, government bonds, and the euro while dumping equities, particularly…
