US stocks fall the most in 2 years
Wall Street's major indexes fell 3% on August 5 - the lowest level since 2022, mainly due to investor fears of recession.
Wall Street's major indexes fell 3% on August 5 - the lowest level since 2022, mainly due to investor fears of recession.
Stocks and cryptocurrencies plunged in the first session of the week amid concerns about the US economic crisis and escalating geopolitical risks.
Rising interest rates in Japan, along with less optimistic US economic data, pushed the yen to its highest level since the beginning of the year compared to the USD.
Shares of the US chipmaker had their worst session since 1974, after announcing a loss in the second quarter and a plan to lay off huge numbers of employees.
The Topix index had its worst session since 2020, as a rise in the yen raised investor concerns about falling corporate profits.
The former US President's fortune has declined, as Trump Media shares have lost value in recent weeks following new developments in the election.
The yen's fall to a 38-year low against the dollar last month prompted authorities to spend tens of billions of dollars on a second intervention this year.
Investors' expectations for AI chip demand sent Nvidia shares soaring, adding $330 billion to the company's market capitalization in one session.
The yuan has overtaken the euro to become the second most used currency in global finance, new figures show.
Despite exceeding the budget, the Paris Olympics are expected to cost France only about $10 billion thanks to reuse, recycling and leasing.