<Anchor> The
US stock market also fell sharply overnight.
The stock market was further frozen this week as expectations of a significant rise in US interest rates emerged.
As European stock markets also fell a lot, the sense of crisis in the global economy is growing.
This news came from Correspondent Kim Jong-won from New York.
<Reporter> The
Dow Jones fell nearly 900 points from the battlefield today (the 14th).
It was down more than 500 points for three consecutive trading days, and this is the first time in history.
The S&P 500, a collection of blue-chip stocks, also plunged more than 3.8%, and the Nasdaq, which focuses on tech stocks, also plunged nearly 5%.
[Ed Moya/Senior Analyst 'Oanda': (S&P 500 enters bear market) This means the economy is heading in the wrong direction.] The
cause is also out of control inflation.
The skyrocketing oil price is also one of the main culprits driving up US inflation.
At a gas station in this neighborhood, I told you that the national average oil price in the United States broke through the $4 mark in March last month, but as you can see, in just three months, it crossed the $5 mark.
It is the first time in history that the price of gasoline in the United States has exceeded $5.
In addition, the US central bank, the Federal Reserve, is expected to take a giant step in raising interest rates by 0.75 percentage points at once this week, fueling the stock price plunge.
European stocks also fell more than 2% in major indices, raising fears that the global economy could plunge into a recession.
However, there is also cautious optimism on Wall Street
.
It is clear that we can experience a recession.
Right now, there is a 50/50 chance of a recession.
But that's okay.]
Opinions are divided on how severe the recession will be, but most agree that the global stock market crash is a harbinger of a recession.
(Video coverage: Lee Sang-wook)