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Nikkei 225, Nasdaq & Nifty 50 Fall as Chinese Stocks Tank, Crypto Feels the Heat
The global financial market is in turmoil today as the Nikkei 225, Nasdaq, and Nifty 50 have all experienced significant losses. The decline of these major indexes has been triggered by a steep drop in the Chinese stock market.
As of Monday morning, April 7, the Shanghai Composite Index had plummeted approximately 6.34% to around 3,130.17. Meanwhile, the Hang Seng Index in Hong Kong dropped about 10.70% to trade at approximately 20,404. This substantial decline reflects a massive loss on the Chinese stock market.
The Asian market’s losses are not limited to China alone as investors globally have opted to shift their investments from stocks to bonds and gold markets due to heightened volatility. In this context, it is no surprise that other major indexes such as the Nikkei 225, Nasdaq, and Nifty 50 have also experienced sharp declines.
The anticipated impact on Western financial markets should not be underestimated. Following China’s retaliatory measures against the US tariff trade last week, the EU will likely announce its reciprocal tariffs this week. This development could lead to further market downturns in major economies, including the United States. Consequently, we expect severe losses across the Dow, S&P 500, and Nasdaq indexes later today.
Charles Gasparino, a senior correspondent with FOX and NY Post, has been quoted as stating: “Big Wall Street trading desks will be manned in time for tonight’s futures open. They are preparing for more selling, intense selling. But you also hear talk about ‘value’ and how some really good stocks are ‘oversold.’ However, bearishness is clearly the overwhelming sentiment.”
The crypto market has been affected by the ongoing global trade wars, with the price of Bitcoin dipping below $80k on Sunday. This sudden drop caused nearly $1 billion in liquidated positions, with $850 million involving long traders. With investors growing increasingly fearful, the wider cryptocurrency market is expected to continue in a bearish mode as fear leads more investors out of the market.
Additionally, chain data reveals heavy liquidation by whale investors while others seek refuge in stablecoins.
Source: https://coinpedia.org/news/nikkei-225-nasdaq-nifty-50-fall-as-chinese-stocks-tank-crypto-feels-the-heat/
