Audio By Carbonatix
Financial markets in Asia and the US have tumbled on fears that the world's largest economy could be headed to a recession.
Shares in American chip giant Nvidia slumped by almost 10% as concerns over the economy dampened optimism about the boom in artificial intelligence (AI).
On Wednesday morning, major Asian indexes dropped after major stock indexes in New York fell sharply.
Investors turned more cautious as new data showed US manufacturing activity remains subdued, with the focus now on key jobs figures due on Friday.
In New York on Tuesday, the S&P 500 index closed more than 2% lower, while the technology-heavy Nasdaq fell by over 3%.
On Wednesday, Japan's Nikkei 225 was down around 3%, South Korea's Kospi was trading 2% lower and the Hang Seng in Hong Kong dropped by 1.5%.
Major Asian technology firms including Samsung Electronics, SK Hynix and Tokyo Electron were sharply lower.
Latest Stories
-
Building Ghana better: Why architects must be at the heart of national development
4 minutes -
Semenyo eyes bigger targets after breaking Yeboah’s Ghanaian Premier League record
4 minutes -
Health Ministry reviews NDC manifesto commitments
53 minutes -
Mfantsipim School @ 150 and Creech’s Mfantsipim Diaries: My First Shock
2 hours -
Labour backs proposed IPEC but demands full involvement in pay reforms
2 hours -
Ashaiman, parts of Accra to face 15-hour power outage Sunday
3 hours -
Mohammed Baantima Samba retains NPP Northern Regional chairmanship
4 hours -
Qatar denies capturing three Iranian pilots after downing fighter jets
4 hours -
Jeff Konadu Addo retains NPP Eastern Regional chairmanship
5 hours -
Peru cracks down on illegal gold mining in Amazon reserve with military show of force
5 hours -
NPP polls: Makafui Woanya re-elected as Volta Regional Chairman
6 hours -
NPP polls: List of newly elected NPP regional chairmen
6 hours -
Eleven killed in Israeli strikes on southern Lebanon, authorities say
6 hours -
MTN launches Bright Scholars Alumni Network to harness opportunity
6 hours -
Akyem Abuakwa Traditional Council demands apology from Akyemansa DCE over chieftaincy interference
7 hours