The falling US stock market has puzzled some market participants even thought it was expected by the majority. The key indexes have plunged to the lowest levels since February this year.
The leading technological companies have suffered the most: Apple and Google dipped 3.6% each, Amazon dropped over 6%, Facebook fell 4%, while Netflix crashed down by 9%. As a result, the tech-heavy Nasdaq Composite index declined more than 4%, which was the worst fall since June 2016.
The US stock market collapse immediately affected other markets. Oil price decreased from $85 to $82 per barrel. The Russian stock market also reacted: Gazprom lost almost 3.5%, Lukoil went down by 1.5% and Sberbank slipped about 1%.
The global financial community was surprised at the US dollar’s unexpected trading behavior. Usually, the greenback rises amid such economic events, this time, however, investors shifted their focus off the US currency so its exchange rate dropped.
