Losses in the stock markets are worsening worldwide

The global stock markets experienced a dramatic downturn as concerns grew that the Federal Reserve is hesitating to react to a slowing U.S. economy. Japanese stocks were particularly affected by this uncertainty, falling for the third consecutive day. The broader Topix index in Japan plummeted by more than 6%, while both the yen and the country's government bonds rose in value. The backdrop of these developments is investors' bets that the Bank of Japan will continue to raise interest rates following last Wednesday's rate hike. Stock markets in Korea and Australia also recorded losses, while U.S. futures fell by more than 1%. This global market reaction reflects the increasing concern over potential further interest rate hikes worldwide.