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Stock market carnage: FTSE and European indexes brace for big falls

 

Stock markets across Europe are bracing themselves for big falls after what was described as “carnage” in indexes across Asia overnight.

Falls in Japan and Australia were prompted by a plunging markets in the the US – with the Dow Jones on Monday experiencing its greatest one-day points fall in history.

The FTSE 100 was expected to fall 3.5% on opening. That follows a near 5% drop in Japan’s benchmark Nikkei 225 index and a 3.3% fall on Australia’s ASX200.  “There’s genuine carnage out there,” Chris Weston, chief market strategist at IG in Australia told the Washington Post. “Everyone is just running for the hills because nobody actually knows what is causing this move.”

In Japan, the Nikkei 225 index declined by as much as 7% during the day’s trade before a slight recovery to close down 4.7%. The Nikkei’s decline of 1,071.84 points was its largest point fall since 2016.

Maki Sawada, from the investment research and investor services department at Nomura Securities Co, said stocks were being sold in panic after the Wall Street losses.  Read More

 

Related news: Asian shares retreat from decade peak on China anxiety.  Read More