Global Equities Take a Dive Amid Economic Concerns and Market Volatility

Global equities witnessed a significant drop, driven by weak U.S. manufacturing data and anxieties ahead of the monthly U.S. jobs report. Investors are concerned about the state of the American economy and the Federal Reserve's next rate cuts. Commodities like oil and copper also saw a decline, adding to market volatility.

Global equities fell sharply on Tuesday, with Wall Street stocks experiencing their biggest decline since early August. The drop was spurred by weak U.S. manufacturing data that raised concerns about the economy. Investors are anxiously awaiting the monthly U.S. jobs report to gauge the health of the American economy and to see how swiftly the Federal Reserve might cut rates.

Oil prices hit their lowest level since last December, influenced by expectations of a deal to resolve a Libyan production and export dispute. Meanwhile, copper prices fell to their lowest in over two weeks due to concerns about weak Chinese demand.

Major Wall Street indexes all posted significant losses. The Dow Jones fell 1.51%, S&P 500 dropped 2.12%, and the Nasdaq Composite declined 3.26%. MSCI's global stock gauge also saw a substantial decline. In currency markets, the dollar hovered near a two-week high against the euro, amidst a data-heavy week including the U.S. payrolls report. U.S. Treasury yields fell following soft manufacturing data.

(With inputs from agencies.)