Stock markets around the world plunge
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.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
-
Is the US in recession?Today's Big Question ‘Unofficial signals’ are flashing red
-
Dinosaurs were thriving before asteroid, study findsSpeed Read The dinosaurs would not have gone extinct if not for the asteroid
-
Trump pardons crypto titan who enriched familySpeed Read Binance founder Changpeng Zhao pleaded guilty in 2023 to enabling money laundering while CEO of the cryptocurrency exchange
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
