Highlights

  • Fed raises risk of a slowdown in the United States
  • Nasdaq down over 34% from record high
  • Nasdaq Composite recorded 779 new lows.

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US markets collapse, Dow sinks 700 points to year low

Fears of recession grip global markets as central bankers vow to fight inflation

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.


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