Europe, Asia Shares Plunge

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Japanese shares

VOA

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Markets tumble, led by 5.8% drop in Tokyo following a tech-driven retreat on Wall Street

Summary

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77% Informative

Japan ’s Nikkei 225 index slumps 5.8% as investors panicked over signs of weakness in the U.S. economy.

The declines follow a retreat on Wall Street after weak manufacturing data raised worries the Federal Reserve may have waited too long to cut interest rates, raising risks of a recession.

A nearly 19% decline in Intel 's shares in aftermarket trading deepened the gloom, with the chipmaker cutting 15% of its massive workforce to better compete with more successful rivals like Nvidia and AMD .

S&P 500 drops 1.4% after a report shows U.S. manufacturing activity is still shrinking.

The Dow fell 1.2% , and the Nasdaq composite dropped 2.3% .

The small stocks in the Russell 2000 index dropped 3% .

Other reports show the number of jobless benefits hit its highest level in about a year .

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formal

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English

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