Stock markets plummet globally on fears of a US recession

Global stock markets experienced a significant decline at the start of the new trading week, with the Nasdaq index in New York dropping by 6%, the S&P 500 index falling by 4.2%, and the Nikkei 225 in Tokyo suffering its biggest decline in nearly four decades, down 12%. The sell-off was triggered by weak US jobs data and concerns that the US economy could be sliding towards a recession, sparking a global sell-off that affected tech, oil, gas, retail, auto, and bank stocks. The S&P 500 and Dow were also down more than 2% in New York, while European and Asian markets also tumbled. Economists fear that the US economy may be weaker than central bankers at the Federal Reserve expect.