Global Market Turbulence: Tech Giants and Rate Hikes Shake Investor Confidence

Investors are concerned about a slowing US economy, leading to significant declines in global markets. Rising interest rates and expensive tech stocks have exacerbated the situation. The Nasdaq composite saw a 10% drop, while Japan's Nikkei experienced its worst decline since 1987. The market reaction shows anxiety over inflation and central bank policies.

Global markets are experiencing significant turmoil as investors, worried about a slowing US economy, drive down stock values. Major technology companies, including Nvidia, Apple, and Microsoft, saw billions in market value evaporate, affecting investor confidence.

The Nasdaq composite entered a correction with a 10% fall, while Japan's Nikkei suffered its worst two-day decline since 1987. Concerns are mounting over expensive tech stocks, sluggish job and manufacturing data, and central banks' interest rate policies.

In the US, traders speculate that the Federal Reserve might need to cut rates sharply. Meanwhile, Japan's recent rate hikes are causing turbulence in its markets, exacerbating investor anxiety globally.

(With inputs from agencies.)