World stock markets tank; sell-off hits $4 trillion

Feb 06, 2018, 6:41 AM EST
(Source: Ken Teegardin/flickr)
(Source: Ken Teegardin/flickr)

The four-day rot in the Asian markets reflected across the world on Tuesday with the European shares falling sharply up to 3%, sparking sell-off of about $4 trillion, in what analysts view as a healthy correction.

The U.S. data on stronger wage growth last week fueled expectations of speedy interest rates hike, triggering the sell-off by investors who seek to stem the losses, notes the BBC.

The sudden slide from record highs just eight days ago painfully reminds the investors that “one-way bets don’t exist,” said analysts at Robobank, writes Reuters.