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Global stocks tank over fears of Middle East war, US recession

On Wall Street, the S&P 500 lost 3.1% while the tech-focused Nasdaq Composite Index lost 3.7% of its value after markets opened in New York Monday morning.

Customers wait outside currency exchange stores on Aug. 5, 2024, in Tokyo, Japan.
Customers wait outside currency exchange stores on Aug. 5, 2024, in Tokyo, Japan. — Tomohiro Ohsumi/Getty Images

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