Hong Kong stocks plummeted on Monday, mirroring the anxieties gripping Wall Street. The Hang Seng Index suffered a sharp decline as investors reacted to growing concerns over the U.S. market’s instability.

The sell-off was broad-based, impacting various sectors including financials, property, and technology. Market analysts attributed the downturn to a combination of factors, including:

• Heightened risk aversion due to the ongoing credit crisis in the United States.
• Disappointing economic data releases, signaling a potential slowdown in global growth.
• Profit-taking activities after a period of relatively strong performance.

“Investors are increasingly worried about the potential for a deeper recession in the U.S., and this is weighing heavily on sentiment in Hong Kong,” said a senior market strategist at a leading investment bank. “We are seeing a flight to safety, with investors moving out of equities and into less risky assets.”

Trading volume was significantly higher than average, indicating strong selling pressure. The market’s outlook remains uncertain, with analysts closely monitoring developments in the U.S. and globally.