Global Market Turmoil: A Deep Dive into Financial Instabilities

Financial markets are experiencing a massive sell-off, with significant drops in major indices like the S&P 500, Dow Jones, and Nasdaq. The current crisis, comparable to the COVID crash, is fueled by escalating trade tensions between the US and China. Oil prices also plummeted to their lowest since 2001.

The global financial markets are undergoing a severe sell-off phase, as major indices report substantial declines.

Friday saw the S&P 500 and Nasdaq composite each tumble 5.7%, while the Dow Jones Industrial Average fell by 2,100 points. This upheaval marks one of the market's most significant crises since the pandemic-induced crash.

The escalation is largely attributed to a heightening trade war between the US and China, with China responding to President Donald Trump's recent tariff hikes in kind. Even a positive US job market report, typically a monthly economic high point, failed to stem the downturn. Concurrently, oil prices have hit their lowest level since 2001, compounding the strain on global markets.

(With inputs from agencies.)