Major stock markets across the globe declined on Tuesday morning in response to Monday’s sell off and falling investor confidence in the US.
China’s SSE Composite Index dropped just over two-percent, while the Tokyo Stock Exchange’s Nikkei 225 index fell by 1.1 percent.
READ MORE: Facebook, Apple Drag Down US Stocks
Meanwhile, European indices suffered similar falls, with the Euro Stoxx 50 – a Eurozone-wide index – falling by one-percent, and Germany’s DAX 30 taking a 1.2 percent hit.
The ongoing fall began in the US, with tech stocks, particularly the FAANG equity basket, entering a sustained decline. Facebook’s share price is close to 40 percent down from July, while Apple’s stock price and market capitalization has declined by 20.3 percent since October 3.
In a forecast report, currency analyst Fawad Razaqzada described the economic outlook as “bleak” and warned that further falls to global equity markets are likely.