Stock Market’s Continue To Plunge into the Abyss as Global Economic Fears Accellerate

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Stock market’s plunge continues on new concerns about the global economy.  The New York Times

The markets continue to slide down the abyss and reach the lowest levels since March of 2021.

U.S. equity futures edged slightly higher Monday after stocks extended a sharp sell-off that sent all three major indexes to their lowest level year-to-date. The 10-year Treasury note yield was above 3%, and the VIX jumped above 34.

A lackluster earnings season has raised concerns over how corporate profits will fare amid persistent macroeconomic disruptions. Investors watch prominent names, including Disney, Peloton, and Rivian Automotive, for further updates.

Wednesday’s Consumer Price Index will offer clues on how aggressively the Federal Reserve will need to act to mitigate rising prices, according to Comerica Wealth Management Chief Investment Officer John Lynch.

Wall Street’s benchmark S&P 500 index sank 3.2% on Monday, hitting its lowest point in more than a year. Several Asian markets also fell, led by the Nikkei 225 in Tokyo and Hong Kong’s Hang Seng.

Asian stocks follow Wall St down on rate hikes and economic fears. The Dow Jones Industrial Average fell 2%, the Nasdaq composite slid 4.3%, and energy stocks fell more than 14%.

Benchmark U.S. crude fell $2.02 to $101.07 per barrel on Monday after losing $6.68 the previous session.

Read more on this topic at the following additional news sources:

  1. Stock market news live updates: Stock futures open slightly higher after S&P 500 closes at lowest level since March 2021  Yahoo Finance
  2. Stock market’s plunge continues on new concerns about global economy.  The New York Times
  3. Asian stocks follow Wall St down on rate hike, economy fears  The Associated Press
  4. Stock market news live updates: Stocks slide to lowest since March 2021, S&P closes below 4,000  Yahoo Finance
  5. 2 Heavily Pummeled Tech ETFs With Better Entry-Points After Fed Decision
  6. View Full Coverage on Google News
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