InvestorQ : Why did the global stock market indices fall so sharply on Thursday 11 June?
diksha shah made post

Why did the global stock market indices fall so sharply on Thursday 11 June?

Answer
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Juvina Maggie answered.
3 months ago


The US Fed projecting 6.5% contraction in GDP resulted in a sell-off across most global markets on Thursday. Even NASDAQ that closed strong on Wednesday reported weakness on Thursday. European markets like FTSE, DAX and CAC were more than 4% down even as Asia remained weak. The Dow lost more than 7% with a sell-off in most of the oil and financial names. The sharply lower growth in the US this year is likely to leave an imprint on Indian companies in the pharma, IT and auto ancillaries sector that depend on exports to the US. Overall, this is negative sentiments, although it should be temporary.