Global Stock Markets Fall Sharply Amid Fears of Slowing U.S. Growth
Anxiety over a slowdown in the U.S. economy intensified on Monday, with a retreat in markets that began last week snowballing into a global rout.
The turmoil was the latest example of how distinct economic forces can ricochet across markets, forcing down company stock prices and erasing billions of dollars in value. In this case, a rapidly rising yen over the past week had disrupted the flow of global capital, prompting a pullback from some popular investments.
But the sell-off quickly expanded into a more widespread panic that the Federal Reserve may have waited too long to start cutting interest rates, threatening the strength of the U.S. economy.
Those fears were amplified by a U.S. employment report released on Friday that showed…
