'Dow Jones Industrial Average' top Google search for Asians as China stock market rout sparks global crisis
Concerned Asian Google users have been frantically searching for news on the Dow Jones Industrial Average, a key stock market index, after China's ongoing stock market crash saw the Shanghai composite fall 8.5 per cent, the largest one-day fall since 2007.
As users watched to see how China’s stock market rout would affect global markets, searches for the Dow Jones Industrial Index spiked in Singapore and Hong Kong and surpassed that of US searches when the American markets opened on Monday.
The Dow Jones Industrial Average comprises 30 significant stocks traded on the New York Stock Exchange and Nasdaq – including Apple, Coca-Cola, Disney and Exxon Mobil – and is one of the most watched stock indexes globally.
Globally, the Dow Jones Industrial Average was also the top-searched market index on Monday.
China’s stock market rout and devaluation of the Chinese yuan have sparked investor worries and resulted in a volatile stock market across the Pacific Ocean.
The US stock market also suffered its biggest sell-off since 2011, with the Dow Jones falling a staggering 6.6 per cent just minutes into the trading day on Monday, eventually closing down 3.58 per cent at market close.
The Nasdaq fell almost 3.8 per cent, and the S&P 500 index lost about 3.93 per cent.
Analysts said that the sell-off is a long-overdue correction that is unlikely to undermine support for US stocks moving forward.