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European Markets Rebound as Asia Recovers from Sell-Off
European markets opened higher on Tuesday with Germany’s DAX, France’s CAC 40, and London’s FTSE 100 all showing gains after a significant sell-off on Monday.
Japan’s benchmark Nikkei 225 index soared nearly 11% on Tuesday, recovering from a sharp drop that had contributed to a global market slump on Monday. Other Asian markets also saw a rebound, though to a lesser extent, indicating a stabilization after the week’s turbulent start.
Monday’s market plunge was reminiscent of the 1987 crash, sparking fears of a slowing US economy. The Nikkei gained nearly 11% early Tuesday and was trading 10.3% higher by early afternoon as investors sought bargains after the previous day’s 12.4% drop. On Monday, the S&P 500 dropped 3%, marking its worst day in nearly two years, closing at 5,186.33. The Dow Jones Industrial Average fell by 1,033 points, or 2.6%, to 38,703.27, while the Nasdaq composite slid 3.4% to 16,200.08 as major tech companies like Apple and Nvidia experienced significant losses.
The global sell-off that began last week was further fueled by a report showing a slowdown in US hiring, raising concerns that the Federal Reserve’s prolonged high interest rates might be stifling the economy too severely. A report from the Institute for Supply Management on Monday showed slight growth in US services businesses, particularly in arts, entertainment, recreation, accommodations, and food services.
Professional investors cautioned that technical factors might have amplified the steep losses. South Korea’s Kospi index dropped 8.8% on Monday, and Bitcoin fell below $54,000 from over $61,000 on Friday. Even gold, typically a safe haven during market turmoil, slipped about 1%.
On Tuesday, nearly all Asian markets, except Singapore, saw gains. The Kospi jumped 4.3% to 2,546.64. Hong Kong’s Hang Seng index rose 0.5% to 16,775.65. Australia’s S&P/ASX 200 edged 0.3% higher to 7,677.50. Taiwan’s Taiex gained 1.2% after an 8.4% drop the day before. The Shanghai Composite index, which had largely bypassed Monday’s turmoil, was up slightly to 2,861.87.
The dramatic market moves reflect fears that the US economy might be harmed by the Federal Reserve’s high interest rates, leading to speculation about a possible emergency rate cut. The yield on the two-year Treasury, closely tied to Fed expectations, briefly sank below 3.70% on Monday before recovering to 3.89%.
“The Fed could ride in on a white horse to save the day with a big rate cut, but the case for an inter-meeting cut seems flimsy,” said Brian Jacobsen, chief economist at Annex Wealth Management, noting that such actions are usually reserved for emergencies.
Despite the recent declines, the US economy is still growing, and a recession is not certain. The stock market remains up significantly for the year, with double-digit gains for the S&P 500, Dow, and Nasdaq Composite.
Other factors contributing to Monday’s market plunge include the Bank of Japan’s recent interest rate hike, which led to a stronger yen and impacted global trading strategies. Big Tech companies, particularly those involved in artificial intelligence like Nvidia, saw sharp declines amid fears that their stock prices had risen too quickly.
In commodities, early Tuesday saw US benchmark crude oil up $1.18 to $74.12 per barrel, and Brent crude rising $1.00 to $77.30 per barrel. The euro edged up to $1.0956 from $1.0954.
As markets continue to react to economic data and global events, the path forward remains uncertain, but Tuesday’s gains suggest a temporary stabilization after a volatile start to the week.
News
When Smartphone Use Becomes a Problem: The Rise of Digital Disorders
Smartphones and social media have become part of everyday life, but experts are increasingly examining what happens when digital habits become difficult to control. Behaviours such as doomscrolling, FOMO, nomophobia and problematic social media use are attracting growing attention as they begin to interfere with sleep, work, education, relationships and physical activity.
Not every person who spends hours online has an addiction. The key issue is whether someone can control their behaviour and whether excessive use causes significant problems in daily life.
Gaming disorder is currently the clearest example of a recognised digital condition. The World Health Organization includes it in the ICD-11 classification. It involves losing control over gaming, giving it greater priority than other activities and continuing to play despite harmful consequences. Symptoms generally need to persist for at least 12 months and cause substantial disruption to personal, social, educational or professional life.
Social media addiction is less clearly defined. It is not currently recognised as a separate ICD-11 diagnosis, but researchers often describe problematic social media use. Warning signs include repeatedly checking platforms, spending longer online than intended, becoming distressed when access is unavailable and neglecting other responsibilities.
A major WHO survey involving almost 280,000 adolescents aged 11, 13 and 15 across 44 countries and regions found that 11% showed signs of problematic social media use, up from 7% in 2018. The figure was 13% among girls and 9% among boys.
FOMO, or the fear of missing out, can also encourage repeated checking of messages, social networks and news. Researchers have linked FOMO with problematic online behaviour and difficulties managing emotions.
Doomscrolling describes repeatedly consuming negative news about wars, disasters, accidents and other crises. Although people may seek information to feel prepared, constant exposure to distressing material can increase anxiety and create a cycle of worry and further checking.
Nomophobia refers to anxiety associated with being without a mobile phone or losing access to digital connections. It is not an official medical diagnosis, but researchers are studying its relationship with FOMO, social media use and anxiety.
Other technology-related experiences include phantom vibration syndrome, where people believe their phone has vibrated when it has not, and sleep problems caused by late-night screen use.
The physical effects can also matter. Long periods on smartphones may contribute to inactivity, eye strain and neck or muscle discomfort.
Experts say the most important question is not simply how many hours someone spends on a phone. It is whether they can put it down and whether continued use is damaging other parts of their life.
When digital activity begins taking priority over sleep, work, study, relationships or physical activity, it may be time to reconsider how technology is being used.
News
New Flood Warnings Issued in Nepal as Death Toll Reaches 750
News
Nepal Flood Death Toll Reaches 633 as Nearly 3,000 Remain Missing
Rescuers in Nepal and China’s Tibet region are searching through mud and debris as the number of people missing after a devastating glacial flood approached 3,000, while authorities warned of further flooding in areas where emergency teams are working.
Emergency crews have recovered 633 bodies so far, with some victims reportedly carried downstream as far as India. The disaster is the deadliest to hit Nepal since the 2015 earthquake, according to the US Geological Survey, which said a glacial collapse triggered the enormous flow of ice, water, mud and debris.
Nepal’s disaster authority has added 933 hydropower workers to its missing persons list, alongside trekkers and pilgrims travelling toward Tibet’s sacred Mount Kailash.
The scale of the disaster has left families searching desperately for relatives. Hospitals in Kathmandu have been crowded with people looking for missing loved ones, while photographs and names have been displayed on posters around the facilities.
The search has also been complicated by the risk of additional flooding. Huge lakes formed after debris blocked waterways, and one such body of water became a direct threat to rescuers.
Nepali police warned emergency workers to move immediately to safer locations after receiving reports that another water barrier had burst on the Tibetan side.
China temporarily halted rescue operations in the worst-hit Gyirong area on Friday because of renewed flooding concerns. Chinese state broadcaster CCTV later reported that the threat had eased after the water level of a debris-formed lake fell, allowing rescue operations to resume.
Chinese President Xi Jinping chaired a meeting on the disaster and offered China’s assistance to Nepal’s emergency response.
In Nepal, military teams have been working to rescue people trapped inside the Trishuli 3A hydropower project. Army spokesman Raja Ram Basnet said helicopters had been sent to the area, but locating the tunnel entrances was difficult because of extensive destruction.
Around 350 workers and residents had been brought to safety from the site, while efforts continued to reach more than 100 people still trapped.
Survivors described the flood as striking with extraordinary speed. Buddha Tamang, a worker at one of the dams along the Trishuli valley, said he survived because he was inside a tunnel when the water arrived. He said senior workers on the other side of the facility were swept away.
Aid has begun reaching some survivors, with makeshift army relief centres providing shelter and assistance. Children separated from their families are also being housed while authorities work to reunite them with relatives.
UNICEF said at least 17,000 children urgently need humanitarian assistance. Eighteen schools have been destroyed and another 20 damaged.
The International Red Cross estimates that at least 93,000 people have been affected and require significant assistance.
The European Union has pledged €2 million in emergency aid for Nepal. European Commission President Ursula von der Leyen said the funding would help provide life-saving assistance to families and communities most severely affected.
With thousands still missing and unstable water bodies threatening rescue areas, authorities face a race against time to find survivors while preventing further loss of life.
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