Plunging Asian stock markets set off a domino effect Black Monday on Aug. 5. For Japan's Nikkei, a 12.4% drop was its second-deepest ever. As a result, fears of a recession in the United States have mounted following last week's global falls.
Expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks on Tuesday, while the pound sagged as Britain braced for a new prime minister who could pave the way for a no-deal exit from the European Union.