Nicola Mawson
Local markets weakened yesterday amid a market bloodbath after a global sell-off that was triggered after worse-than-expected US jobs data spiked fear of a recession.
Shares across board from Asia, to Europe to the US were in bear territory.
Japanese shares plunged to its lowest level since the Black Monday crash in 1987. The Nikkei index plunged 12.4% lower - its second-largest decline on record.
US jobs data out late on Friday showed that the unemployment rate rose to 4.3%, when analysts had expected it to remain unchanged at 4.1%. Wages were also weaker than expected, with the year-on-year rate sliding to 3.6% from 3.8%.
