Tumbling stocks and recession fears assessed

Hello. US stock markets followed those in Europe and Asia by plunging in value on Monday. Dharshini David explains what's behind the losses - and Dearbail Jordan assesses fears about the US heading for recession. In Bangladesh, our reporters sample the mood on the streets after protesters got their wish in causing the prime minister to quit. And scroll down for 24-hour drinking, friendships with cats and a spinning iceberg.

QUESTIONS ANSWERED

Stocks tumble over growth fears

US stocks tumbled in the wake of falls in Asia and Europe. Credit: Getty Images

Over the past few days, global stock markets have been plummeting, with Japan's suffering its biggest fall by points in history. It comes after weaker-than-expected economic data from the US, including a jobs report on Friday, fuelled speculation that the world's largest economy was slowing.

What’s behind the market jitters?

Some investors fear the US may be headed for recession. Any slowdown has global ramifications. American consumers account for one in every seven dollars spent globally, so that can hit demand for goods worldwide. The value of commodities such as oil have slipped, while the shares of mining companies and banks have been hit particularly hard - even though growth prospects in the UK and Europe remain relatively upbeat.

What else is going on?

Investors are concerned the shares of big US tech companies may have risen too far in recent months, with some key figures like Warren Buffett selling stakes. That’s caused the likes of Apple and chipmaker Nvidia to see their share price drop sharply, prompting particularly sharp corrections in Asian markets which have invested heavily in technology stocks.

How worried should we be?

Economists caution that the majority of economic data suggest the US isn't heading for recession - one put the chance of that as just one in four. And some markets, such as in the UK, have merely returned to where they were a few months ago, suggesting investors may have been too optimistic before.

THE BIG PICTURE

Seeking a reward from all-night drinking

A central all-night district will be licensed to serve alcohol throughout the night. Credit: Catrine Daoust

Many cities have "night tsars" to sell their bar and club culture. But few have gone truly 24-hour. Canada's second-largest city, Montreal, is planning to do just that in a bid to bring in millions of dollars in revenue. Business reporter Sam Gruet hears strong voices both in opposition and in favour.

And finally... in the Southern Ocean

A23a, the world's biggest iceberg, was expected to be racing along with Earth's most powerful ocean current. Instead, it has been spinning on the spot, just north of Antarctica, for the past couple of months. Scientists say the frozen block has been captured on top of a huge rotating cylinder of water. It's a phenomenon oceanographers call a Taylor Column - and it's possible A23a might not escape its jailer for years.