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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