US markets suffered their worst single day drop since 2020 as stocks, bonds, crypto all came crashing down wiping over $1.3 trillion worth of investments in a single session. Here is what you need to know-:
- Tech-heavy Nasdaq 100 dropped 5.1%, the most since September 2020.
- Dow Jones Industrial Average lost 1,063 points, or 3.12%,
- Bitcoin -- the largest cryptocurrency -- dropped over 10%, just barely managing to hold onto $36,000.
- Risk aversion has swept away the relief rally seen on Wednesday after Fed's rate hike
- Tech stocks hit the hardest as they are particularly vulnerable to higher interest rates.