U.S. employment and manufacturing numbers contributed to global market instability on Monday.
The U.S. stock market experienced a sharp decline on Monday amid a global market selloff. The Dow Jones fell 1,034 points, while the Nasdaq decreased 3 percent. Earlier in the day, Japan’s Nikkei 225 Index experienced its worst historical decline, plunging about 12 percent, while Japan’s Topix index also fell 12 percent.
On Tuesday, the markets gained back some of the losses in early trading. Japan’s Nikkei recovered three-quarters of its losses.
Financial experts attribute the instability to the weak U.S. jobs report from the Department of Labor, decreased U.S. manufacturing, and a pessimistic forecast from the U.S. tech sector.
As the Lord Leads, Pray with Us…
- For U.S. federal economic advisors to be discerning in their recommendations to the president and his Cabinet.
- For U.S. financial officials to seek God’s wisdom as they assess the markets and provide information.
- For the president, vice president, and members of the administration as they pursue their agenda.
Sources: Wall Street Journal, The Epoch Times
