Global stock markets suffer "carnage"

On August 5th, the global stock market sell-off deepened. US stock index futures continued their decline, and Nasdaq futures extended their decline to 3%. The European session has not yet started, but European stock index futures fell sharply, with the European Stoxx 50 index and major German and French stock index futures both falling by more than 1%. The MSCI Asia Pacific index plunged by 5%, which is expected to erase the gains in 2024. The US/Japan fell by more than 3% during the day. After the yen soared further, the decline of Japanese stocks accelerated. Japan's Topix index fell by 10%, marking its worst one-day performance since 1987. Banks and insurance companies were the worst performers in the Japanese stock market. The Korean growth enterprises market halted trading after plunging 8 per cent, wiping out all gains made since regulators imposed a ban in early November. Taiwan shares fell 1,700 points, down 8 per cent in the day, while Australian shares hit their lowest level since late June.