Stock markets around the world plunge

(Image credit: iStock)

published 11 October 2018

Stock markets around the world plunged Thursday, following one of the worst point drops in the Dow Jones Industrial Average's history on Wednesday.

Bloomberg reports that the 832-point drop triggered a massive U.S. sell-off, which rippled through Asian markets. Indexes in Tokyo, Hong Kong, Shanghai, and Taiwan plummeted between 3 and 6 percent, and experts say the rout will continue.

President Trump blamed the Federal Reserve's newly-raised rates for the tumble, but Treasury Secretary Steven Mnuchin said the "correction" in the market was "not particularly surprising." Analysts say rising trade tensions between the U.S. and China could continue to cause strife; the CBOE Volatility Index, sometimes referred to as the "market fear index," is at its highest point in about four months. Read more at Bloomberg.

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Summer Meza has worked at The Week since 2018, serving as a staff writer, a news writer and currently the deputy editor. As a proud news generalist, she edits everything from political punditry and science news to personal finance advice and film reviews. Summer has previously written for Newsweek and the Seattle Post-Intelligencer, covering national politics, transportation and the cannabis industry.

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