News of a big decline in Wall Street, this week was the worst in 18 months for S&P 500
Wall Street: There is news of a big decline in the US stock market (Wall Street). According to the report, this is the worst weekly decline in the US market in the last 18 months.
Amid fears of economic recession around the world, big news has come from the US stock market. According to the report of the news agency AP, a big decline has been registered in Wall Street after mixed reports related to jobs. This week has been the worst in 18 months for the global rating agency - S&P 500. According to Amar Ujala, the jobs report, considered to be the most important of the year, was so weak that concerns about the economy remained. On Friday, the S&P 500 fell by 1.7 percent.
Shares of Broadcom, Nvidia, and other tech companies fell massively. Prices have risen too much due to the boom around artificial intelligence. Due to this, the Nasdaq Composite fell by 2.6 percent. The Dow Jones Industrial Average fell 1 percent. According to the news, the jobs report showed that employers hired fewer employees than expected in August, after which the Treasury yield fell. After a brief improvement, a decline was again registered.
Reports of layoffs have also come to the fore in many companies in India too. The domestic stock markets fell sharply on Friday due to a weakness in global markets and capital withdrawal by foreign investors.
It slumped 1,017 points to a two-week low. The Nifty plunged 293 points to 24,852.15. The Sensex settled 1,017.23 points down at 81,183.93 as selling was witnessed in shares of IT, oil-gas companies and public sector banks. The total capital of companies listed on the BSE declined by Rs 5.49 lakh crore to Rs 460.18 lakh crore.
