Bloodbath on Wall Street as Dow, Nasdaq futures plunge amid recession fears

Wall Street’s main indexes nosedived on Monday, as fears of the United States tipping into recession following weak economic data last week rippled through global markets.

The blue-chip Dow Jones Industrial Index plunged more than 1,100 points after the opening bell, while the tech-heavy Nasdaq Composite fell nearly 5% after entering correction territory last week.

The declines followed broad sell-offs overseas, with the Tokyo-based Nikkei index suffering its worst single-day retreat since the infamous “Black Monday” crash of 1987 — closing 12.4% lower — while European stocks fell to near six-month lows.

The pan-European STOXX 600 index was down 2.6% at 487.15 points, its lowest since Feb. 13.

Some of the world’s largest tech companies saw their stocks get hammered early Monday.

Biden Speaking on Bidenomics by Adam Schultz is licensed under White House White House
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