Stock Market Crash Today: Top Losers On Sensex And Nifty Revealed

Stock Market Crash Today | New Delhi: Indian benchmark indices Nifty and Sensex extended losses on August 5 after weak global cues and weak US jobs data fanned fears of a recession.

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The broader market, mainly mid and small-cap indexes fell more than 2 percent each, which is more than the headline indexes.

Tokyo led a collapse across Asian and European equities Monday after weak US jobs data fanned fears of a recession in the world’s top economy and boosted bets on several Federal Reserve interest rate cuts.

Here’s What Is Happening Across Global Stock Markets Today

• Tokyo’s Nikkei tanked more than 12 percent in its worst day since the Fukushima crisis in 2011. It also suffered its biggest-ever points loss, shedding 4,451.28.
• Seoul and Taipei plunged more than eight percent each, while Singapore gave up nearly five percent and Sydney more than three percent.
• The Taiex, the weighted index on the Taiwan Stock Exchange dived 8.35 percent, or 1,807.21 points, to 19,830.88 by the close, with market-heavyweight chip giant TSMC off more than nine percent.
• South Korea’s benchmark Kospi index dived 10.75 percent, or 287.64 points, to 2,388.55, while the exchange trading was suspended for 20 minutes as a circuit breaker kicked in to ease volatility.
• Japanese Finance Minister addresses media after stock market crash, says cooperating with BoJ, FSA, closely to monitor markets with a sense of urgency.
• The Bank of Japan hiked interest rates on July 31, sending the Japanese indices into a tailspin and the global markets roiling.
  The Japanese Central Bank first hiked interest rates after 17 years on March 19, for the first time since 2007. The BoJ announced that it was raising its short-term policy rate from -0.1 percent to between 0 and 0.1 percent.
• Frankfurt sank more than three percent while Paris slumped 2.6 percent and London shed 2.3 percent. Elsewhere, Milan plunged four percent and Madrid gave up 2.8 percent.
• Shares of European tech and semiconductor stocks were down, as worries over a possible U.S. recession after soft data gripped financial markets.
• The STOXX tech index was last down 4.1%, making it the worst performer among sectoral indices on the region-wide STOXX 600, which shed some 3%.
• US futures were deep in the red with Nasdaq futures down 5 percent while the Nasdaq entered the correction territory as the index is off 10 percent from all-time highs.
• Aniruddha Naha, CIO – Alternatives, PGIM India AMC spoke on today’s market fall. He said, “The global risks associated with the interest cost rise in Japan and an appreciating Yen has led to the unwinding of the carry trade. This will have implications for global equities and is likely to see a rub-off for Indian equities as well. Investors need to tone down return expectations and allocate towards equities over the next 9-12 months, hopefully reaping benefits over the next 3 to 5 years.”

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