US leads global stock market plunge

Donald Trump adds to market confusion by calling US Fed rate hike ‘crazy’

Steep losses on Wall Street have caused global stock market slump
(Image credit: Spencer Platt/Getty Images)

Stock markets around the globe have suffered heavy losses, following a dramatic plunge on Wall Street that saw the US Dow Jones Index drop by more than 3.15%, it’s steepest single-day fall since early February.

The BBC reports that the fall on Wall Street was precipitated in part by the US Federal Reserve decision to raise interest rates, “a move that tends to make it more expensive for companies to borrow, hurting bottom lines and turning stocks into a less attractive investment”.

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