Black Monday on Global Stock Exchanges: The Situation

• Catalyst: The largest drop on the Japanese Stock Exchange since 1987—down 13%. Trading halted.
• South Korea: Trading halted after a 12% drop.
• Japan: Bank stocks fell by 20% before trading was halted.
• Taiwan: The Taiwan Stock Exchange Index fell by 10%—the largest single-day drop in history.
• Turkey: The Istanbul Stock Exchange also plummeted by 7%, leading to a trading halt.
• Robinhood: One of the largest private brokers, stopped trading on its platform.
• Pre-market losses: Across the board—Nvidia -10%, Tesla -12%, Apple, Microsoft, Google, Amazon -10%.
• Bitcoin: Dropped below $50,000, followed by altcoins.
• Oil price: Fell to $76.

European Stock Indices:

• Germany DAX: Down 2.6%
• UK FTSE 100: Down 2.8%
• France CAC 40: Down 2.4%
• Spain IBEX: Down 2.6%
• Italy FTSE MIB: Down 2.8%

Notable Declines:

• Banks: Societe Generale down 3.8%, Barclays and Santander - 3.4%, Deutsche Bank - 4.4%, Commerzbank and Intesa Sanpaolo - 3.2%, Unicaja Banco - 4.1%, Banco de Sabadell - 3.6%, BBVA - 3.3%, UniCredit - 4%.
• Automakers: BMW down 3.3%, Porsche and Volkswagen - 3.9% and 3.5%, Daimler Truck and Mercedes-Benz - 2.7%, Renault - 4.6%.

Cause of the Panic:
There's no single reason for the panic; it's a complex set of factors, with fears of a recession in the US being prominent. The collapse of the Japanese market, seen as a major US ally, was a red flag for many traders, triggering a rapid and uncontrollable market sell-off. The situation continues to unfold.

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