Wall Street is still reeling from the Fed bull case turning into a bearish scenario of bigger rate hikes for longer. Read More...
Reuters
Wall St tumbles amid Fed tightening jitters, economic rumblings
Wall Street ended sharply lower on Thursday, extending its losses in late afternoon trading as a raft of economic data failed to alter the expected course of aggressive tightening by the Federal Reserve amid growing warnings of global recession. The sell-off gathered momentum toward the end of the session, with market leaders including Microsoft Corp, Apple Inc and Amazon.com Inc hitting the tech-laden Nasdaq hardest. Earlier, in Thursday’s trading session, the benchmark S&P 500 closed a hair above 3,900, seen by many analysts as a key technical support level that has been tested several times over the past two weeks.
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