Dow slumps 400 points in global sell-off as recovery fears resurface
- Date: 08-Jul-2021
- Source: Washington Post
- Sector:Economy
- Country:Middle East
Dow slumps 400 points in global sell-off as recovery fears resurface
Global markets slumped Thursday, with Dow futures pointing to a more than 500-point loss at the opening bell as investors worried over emerging threats to the economic recovery, from a pandemic resurgence to labor market pressures.
On Thursday, Japan declared a state of emergency for Tokyo as it tries to beat back a surge in coronavirus cases, weeks away from the start of the Tokyo Olympics. Meanwhile, the more virulent delta variant has taken root in more than 100 countries, according to the World Health Organization, including those with high vaccination rates.
Asian markets closed mostly in the red, with losses led by Hong Kong’s Hang Seng Index, which shed nearly 2.9 percent. European markets were down across the board in midday trading, with France’s CAC 40 dropping 2.4 percent, the pan-European Stoxx 600 off 1.8 percent and the German Dax down 1.9 percent.
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