#GlobalMarket
Japanese and other Asian exchanges began to collapse amid the collapse of world markets. The Tokyo Stock Exchange index fell almost 10% for the first time since Black Monday in 1987.The Japanese Nikkei stock index, which includes shares of 225 of the country's largest companies (including Honda, Mazda, Mitsubishi, Nissan, Panasonic Nintendo), lost more than 3,000 points during trading by morning. The index fell by a record 9%, and in some places up to 13%. Other key Asia-Pacific stock indexes also fell.
This comes amid fears of a recession in the US after a report that the unemployment rate rose to 4.3%. Goldman Sachs analysts estimate this probability in the next year at 25%. JPMorgan forecasts a 50% slowdown in the US economy.
