Stock markets around the world are selling off, as investors fear the U.S. could be headed into a recession amid a spate of softening economic data.
Stock markets around the world are selling off to start the week, as investors fear the U.S. could be headed into a recession amid a spate of softening economic data. Japan's Nikkei 225 had its biggest one-day drop since 1987 overnight, losing 12.4% . The Korean Kospi index also shed 8.7%. In Europe , the Stoxx 600 index has shed more than 2%. U.S. stock futures also pointed to steep losses at Monday's open . Dow Jones Industrial Average futures were down more than 600 points, or 1.6%.
government reported employment growth that was well below economist expectations on Friday. That report sent equities tumbling, with the Nasdaq Composite closing in a correction — down more than 10% below. The data also led to some on the Street to increase their odds for a 0.5 percentage point rate cut from the Federal Reserve.
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