Former President Donald Trump laid blame for poor stock market performance on the current administration, despite previously taking credit for record highs under President Joe Biden‘s leadership.
Global shares began collapsing at the end of last week when investors grew alarmed at the prospect of a U.S. recession. A U.S. Labor Department report released on Friday showed American employers added 114,000 jobs, a significant drop from the 179,000 in June.
Japanese stocks on its main benchmark Nikkei index fell sharply on Monday following the release of weaker-than-expected U.S. jobs data, and shares on the London Stock Exchange suffered the worst drop in more than a year. CBOE Options Exchange’s volatility index jumped more than 30 points to 53.55, the highest level since late March 2020.