New York, November 21, 2025 — Global stock markets tumbled sharply on Thursday as concerns over overheated valuations in major technology stocks and cryptocurrencies sparked a broad sell-off across sectors. The downturn has pushed the Dow Jones, S&P 500, and Nasdaq toward their worst weekly performance since April 2025.
The sell-off intensified after stronger-than-expected US jobs data reduced the likelihood of a Federal Reserve rate cut in December, prompting investors to retreat from high-risk and speculative assets. Tech giants—long considered market leaders—were among the biggest decliners as traders reassessed growth expectations.
Cryptocurrencies were hit just as hard. Bitcoin slipped below key support levels, adding pressure to an already weak digital asset market and fueling further volatility.
Global Weakness Spreads Across Europe and Asia
European indices, including the FTSE 100, DAX, and CAC 40, tracked US markets lower, driven by similar valuation concerns and uncertainty around monetary policy. Asian markets followed suit, with Japan’s Nikkei, Hong Kong’s Hang Seng, and South Korea’s Kospi all posting steep losses earlier in the day.
Political Uncertainty Adds to Volatility
Analysts say markets are also reacting to economic uncertainty tied to potential policy shifts under the new US administration. Traders remain cautious ahead of key economic announcements and corporate earnings data expected in the coming weeks.
Consumer Spending in Focus Ahead of Black Friday
As Black Friday approaches, investors are watching US consumer spending trends closely. Retail performance during the holiday shopping season will be a crucial indicator of economic resilience amid tightening financial conditions and global market instability.
