Portland, Oregon Local News
Dow Drops Nearly 1,000 And Japanese Stocks Suffer Worst Crash Since 1987 – KXL
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A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 5, 2024. (AP Photo/Ahn Young-joon)
NEW YORK (AP) — Nearly everything on Wall Street is tumbling as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.
The S&P 500 sank 3.1% in early trading Monday.
The Dow Jones Industrial Average pulled back 996 points, and the Nasdaq composite slid 3.8%.
That followed a 12.4% plunge in Japan’s Nikkei 225, its worst day since 1987.
A jobs report on Friday in the U.S. came in significantly weaker than expected, deepening worries that the Federal Reserve may have kept the brakes on the economy too long with its inflation-fighting high interest rates policy
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Grant McHill
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