Global Market Turmoil: Stocks Plunge Amid Recession Fears

Global markets tumbled as U.S. stock index futures nosedived, with Nasdaq futures down nearly 4%, driven by recession fears. Megacap and growth stocks, including Apple and Nvidia, saw significant premarket losses. Weak U.S. economic data and investor concerns about high stock valuations prompted expectations of swift interest rate cuts by the Federal Reserve.

Global stock markets experienced significant losses as U.S. stock index futures plummeted on Monday, with Nasdaq futures falling nearly 4% due to mounting recession fears.

Major growth stocks like Apple Inc. and Nvidia saw substantial premarket declines, following weak job reports and Berkshire Hathaway reducing its stake in Apple by almost 50%.

Investors are betting on imminent interest rate cuts by the Federal Reserve to stimulate growth, as lower bond yields and a surging CBOE Volatility index reflect heightened market uncertainty.