June 10, 2024
It was another bad day for the FTSE 100 index, and it was worse for Monday, June 10, 2024, as investors remained worried over global markets’ instability. The index dropped down by 1.3% to 7,444.
Merely 50, the lowest rate within several weeks. This decline has been predicted due to various factors ranging from Economic recession duration uncertainty, high inflation rates as well and the impacts of war in Ukraine on world commodity prices.
The global market instability has been forced by continuous economic contraction in most markets, notably the US and Europe. The IMF has also threatened that the international economy is likely to suffer a considerable risk of recession due to the current economic crisis.
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It has led to a situation whereby the investors have lost confidence in the markets, hence selling their stocks globally. The overall indices have been dragged down, most especially by the FTSE 100 has been dragged down by the energy sector, which has dropped more than 2% due to the oil prices following the war in Ukraine.
It has impacted other sectors, including the energy sector, the money sector as well as the industrial sector, which have been major losers. At the same time, analysts do not consider this event significant for the continuation of the further development of the world economy.
Some believe that today’s oscillations are oscillating and that the world economy will be great in the foreseeable future. Meanwhile, the investors are advised to refrain from such classes of investment products and spread their investment throughout to minimize loss.
