Highlights

  • The declines dragged Nasdaq to its worst day in nearly two years
  • $1.3 trillion worth of investment value was wiped out

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$1.3 TRILLION wiped out! US markets see a free fall, here are the details

Tech-heavy Nasdaq Composite fell 4.99% to finish at its lowest closing level since November 2020.

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.

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