Nikkei now down 25% from July 11 close, down more than 12% from Friday's close

[elleng]

2. Markets Around the World Are Rattled by Fears of Slowing U.S. Growth

Stocks in Asia tumbled, led by Japan, where declines triggered “circuit breakers” meant to calm rapid moves. European and U.S. markets were set for declines.

A sell-off in markets around the world turned into a rout on Monday as investors grew panicky about signs of a slowing American economy, with stocks tumbling across Asia.

The declines were especially pronounced in Japan, . .. The decline at one point triggered a “circuit breaker” mechanism that halts trading to let markets digest large fluctuations. The Nikkei 225 index, considered the benchmark in Japan, also fell 12.4 percent.

South Korea’s benchmark Kospi index fell more than 10 percent, triggering its own halt in trading. Equity markets in Taiwan, Singapore, Australia and Hong Kong were all lower.

The declines were expected to continue in Europe and the United States on Monday.

Stock futures for the S&P 500 were down more than 3 percent, and those for the Nasdaq fell 6 percent. Stock futures for key indexes in Europe, including Germany’s, pointed to declines of more than 2 percent. . .

Based on the weakness in the jobs report, Goldman Sachs said in a note that it now expects the Federal Reserve to cut interest rates at its next three meetings — a more aggressive timetable for cuts than the investment bank had previously expected.'>

https://www.nytimes.com/2024/08/05/business/global-stocks.html

JUST in time for naming of new V Potus.

Time to cut rates, anyone???