Stocks across the globe are feeling painful sell-off on Monday

Global stock markets turmoil evokes memories of Black Monday 1987, with the Nikkei index plunging 12% in its worst single-day loss. Factors such as the unwinding of carry trades, margin calls, and prolonged high US interest rates have spurred negative sentiment among investors. Additionally, the ASPI fell by 1.67%, reflecting widespread market instability.