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New York Stock Exchange (file) (Image: Getty)
Chaos has erupted on Wall Street and around the world amid fears the US is in danger of falling into a recession.
Stocks have plunged globablly with Asian shares of bitcoin falling of a cliff following Federal Reserve Board of Governors member Christopher Waller's stark warning of redundancies at an "eye-popping" scale across major US firms.
It comes amid nervousness in the markets as analysts await September employment data set to be published on Thursday, key figures that have been considerably delayed due to the recent US government shutdown - which was the longest in history.
Investors are also watching closely amid fears from some experts that the boom in Artificial Intelligence (AI) may be a bubble on the verge of bursting, bringing shares on a brink of a sharp correction, as per The Telegraph.
Japanese stocks saw a sharp fall on Tuesday, with the Nikkei slumping by 3% amid the tech stocks fears. Chip maker Tokyo Electron dropped 5.4%, while leading semi-conductor test provider Advantest shed 4.6%.
Benchmarks in South Korea and Taiwan also saw falls, with the Kospi dropping 3.1% to 3,960.82 and the Taiex plunging 2.3%, respectively.
Meanwhile, the FTSE-100, an index of the biggest 100 UK firms listed on the London Stock Exchange, was down 94.63 at 9580.80 at 8:15am.
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