Global Markets Slide as S&P 500 Drops 1.57% and Asia Equities Slip Over 1%
US equity benchmarks plunged, with the S&P 500 falling 1.57% and the Nasdaq dropping 2.03% while the Dow erased over 600 points, signaling potential further downside toward the 6752 level. Asian markets also retreated over 1% as technology sectors sold off on AI-related concerns.
1. US Markets Plunge
US equity markets suffered significant declines with the S&P 500 down 1.57%, the Nasdaq off 2.03% and the Dow plunging over 600 points. Technical indicators warn that a breach below the 6830 level could open a drop toward 6752 as tech stocks lead the downturn.
2. Asian Markets Follow on AI Concerns
Following Wall Street’s steep losses driven by AI-related worries, major Asian indices retreated over 1%, with declines observed across Tokyo, Shanghai and Hong Kong. Technology sectors underperformed, extending selloff pressures ahead of regional economic data releases.