Investors are factoring in further rate hikes – and a cooling economy.
There’s been carnage on the main floor of the NYSE overnight.
Mid-week gains on the US stock markets have been wiped out, tumbling below the 30,000 level overnight as recession talk ramps up.
As at 7am this morning NZT (3pm in New York) The Dow Jones Industrial Average had shed 793 points or 2.6% to 29,875; the S&P500 had dropped 134 points, or 3.6%, to 3655 and
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