Global stocks are in a tailspin, with equity benchmarks in Asia, the Gulf and Europe deep in the red along with equities futures in Europe as the war in the Middle East continues.
The turmoil across asset classes is fuelling the equities white-knuckle ride, with oil marching towards $120 per barrel, causing fears of inflation and a global economic slowdown. The US dollar has gained, while gold fell and Bitcoin swung between gains and losses.
Earlier in the day, Asia’s benchmark share index fell as much as 5.6 per cent, the largest drop since April, with South Korea stocks slumping about 8 per cent and Japanese shares shedding as much as 7 per cent.
Japan's Topix index ended trade 5.6 per cent lower, Hong Kong's Hang Seng fell 2.5 per cent a
Continue Reading on The National UAE
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.