The commercial real estate industry faced sudden uncertainty Monday as recession fears shook global markets. This could prompt a larger-than-expected interest rate cut in September, industry sources said. The Dow Jones fell over 1,000 points Monday after Japan’s Nikkei Index dropped 12.4 percent, its largest fall since October 1987’s Black Monday. This sell-off followed a Friday report from the U.S. Department of Labor showing unemployment rose to 4.3 percent from 4.1 percent, the highest since October 2021, with only 114,000 new jobs in July, far below the expected 175,000.
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