Concerns about recession, high inflation and persistent problems in supply chains were the main reasons for Thursday’s weakening of stocks on major global exchanges. Investors are particularly concerned about developments in China.
It was Asian stocks that became the sad heroes of Thursday’s trading as they recorded the deepest drop of all major global markets. The Hang Seng index of the Hong Kong stock exchange wrote off more than 2.5 percent during Thursday, and the Nikkei index of the Tokyo Stock Exchange also lost nearly two percent. Paradoxically, the Shanghai Stock Exchange showed a slight growth (0.36 percent).
Europe has seen a similar development
Also in Europe, the vast majority of stock exchanges were in the red, with shares in London falling the most. The local FTSE 100 index lost 1.82 percent. The Paris stock exchange and the pan-European Stoxx 600 index also dropped more than one percent.
US stocks fell the least
Although US stocks were also in negative territory, their decline was by far the smallest. Wall Street’s main index, the S&P 500, wrote off 0.58 percent, the Dow Jones Industrial Average 0.75 and the tech-heavy Nasdaq just 0.26 percent. The New York Stock Exchange, however, developed more in the wake of other exchanges.
