Mega-cap growth and technology stocks have already been affected by expectations of aggressive interest rate hikes in the United States. In the previous day, it was the technological ones that led the greatest decline.
The Dow Jones Industrial Average falls 0.4% to 34,167.45 units; the S&P 500 index falls 0.4% to 4,394.50 units; and the Nasdaq Composite fell 0.3% to 13,374.59 units.
One of the most dangerous scenarios for the markets is a slowdown in the economy. Optimism about global growth sank to a record low, and recession fears rose in the global investment community, according to the latest Bank of America Corp. survey of fund managers.
High inflation and comments from Federal Reserve officials cemented the view that the central bank will be more aggressive in taking action to combat rising prices.which has also raised concerns that the Fed could make a policy mistake and trigger a recession.
Source: Ambito
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