Getty ImagesUS stock markets fell sharply on Monday following falls in Europe and Asia as fears rose that the American economy is heading for a slowdown.
The technology-heavy Nasdaq index opened 6.3% lower after a sharp decline at the end of last week, but pared its loses during the day.
The other main US indexes also opened sharply down, while stock markets in Europe and Asia plunged with Japan’s Nikkei 225 falling by some 12.4%.
It comes after weak jobs data in the US on Friday sparked concerns about the world’s largest economy.
The US Federal Reserve also held off cutting interest rates last week – something that typically boosts growth – in contrast to other central banks such as the Bank of England.
And there has been concern that shares in big technology companies, particularly those investing heavily in artificial intelligence (AI), have been overvalued and are now facing difficulties.
Chipmaker Intel announced major layoffs last week as well as disappointing financial results, and there is speculation that its rival Nvidia, which makes AI chips, will delay its latest product…
