US stocks fall sharply amid recession fears | Economy

Major U.S. stock indexes fell on Monday as fears of a possible recession in the United States grew following weak data that rattled financial markets.

The Dow Jones Industrial Average fell 1,101 points, or 2.77%, to 38,636 points.

The Standard & Poor’s 500 Index fell 190 points, or 3.57%, to 5,155, while the Nasdaq Composite Index fell 884.85 points, or 5%, to 15,932.

Economic data

The US Labor Department said on Thursday that non-farm payrolls increased by 114,000 jobs last month, well below the median forecast of 175,000 jobs, according to a Reuters poll of economists.

It’s also far short of the 200,000 jobs economists believe are needed to keep up with population growth.

The unemployment rate jumped to 4.3%, nearly a three-year high.

In last Friday’s session, the last session of last week, the US Dow Jones Industrial Average fell 1.51% to 39,737.26 points, and the Standard & Poor’s 500 lost about 1.84% to 5,346.56 points, reaching its lowest levels since June 4. The Nasdaq Composite Index also fell 2.43% to 16,776.16 points.

Asian and European stock exchanges

Asian indices ended today’s trading with a collective decline, as:

• The Nikkei index fell 12.4% to 31,458 points.
• The broader Topix index fell about 12.2% to 2,227 points.
• Hong Kong’s Hang Seng Index fell 1.465% to 16,698 points.
• The Shanghai Composite Index fell 1.54% to 2,860.70 points.
• India’s Sensex fell 2.79% to 78,724 points.
• The Singapore index fell 4.07% to 3,243.67 points.

The situation was no different for European indicators, as:

• The British FTSE 100 index fell 2018% to 7,996 points.
• The German Damex index fell 2.04% to 17,300 points, at the time of writing.
• The French CAC 40 index fell 1.65% to 7,133 points.
• The broader European STOXX 600 index fell 2.3% to 486.41 points.