US stock plunge sparks global sell-off

Asian markets plunged on Tuesday as investors dumped stocks following heavy falls in the US in anticipation of higher interest rates, the BBC reported.

Japan’s Nikkei 225 index suffered its biggest one-day point drop since 1990, before recovering.

It comes after the Dow Jones Industrial Average suffered its worst drop in more than six years on Monday.

US stocks suffered their worst falls in more than six years  in a sell-off sparked by concerns of higher interest rates.

The Dow Jones Industrial Average index tumbled 1,175 points, or 4.6% to close down at 24,345.75.

The White House moved to reassure investors saying it was focused on “long-term economic fundamentals, which remain exceptionally strong”.

Signs of improvement in the economy had driven US markets to record highs.


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