The update from the markets is not a good one! The US markets collapsed in overnight trade falling to a year low as risk or recession and rates hit sentiment. The Dow broke below 30,000 for the first time since Jan. 4.
The Dow dropped 2.42%, S&P 500 slipped 3.25% and the Nasdaq Composite slid 4.08% and touched its lowest level since September 2020.
US markets have suffered steep losses this week. The S&P 500 is down 6%, Nasdaq has fallen 6.1%. US markets are on pace for 11th losing week of the last 12.