Futures were sharply lower this morning after the Dow on Wednesday plunged 832 points, or 3.15 percent, in its worst sell-off since February. The S&P 500 suffered similar losses, marking a five-session losing streak, which was the longest in nearly two years. The Nasdaq tanked 4 percent, in its biggest one-day loss since June 2016.Meanwhile, the 10-year Treasury yield, which has soared to seven-year highs in recent days, was backing off those levels this morning. (CNBC)* Wall Street losses rip through global markets (CNBC)* 80% of technology stocks are already in a correction (CNBC)* Cramer: 4 things need to happen for stocks to recover (CNBC)President Donald Trump continued his tirade against the Fed last night, laying into the central bank’s policy decisions and suggesting it was to blame for Wednesday’s sharp market decline. Trump also said the Fed “is going loco.” (CNBC)
Cryptocurrencies plunged today with nearly $13 billion of value being wiped out in a matter of hours. The IMF warned that cryptocurrencies “could create new vulnerabilities in the international financial system.” (CNBC)
The article goes on to state the following:
Investors get two economic reports at 8:30 a.m. ET: weekly initial jobless claims and September consumer price index. However, those data may only be a momentary distraction from the broad market sell-off. (CNBC)
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The post REPORT: Wall Street is set for another big sell-off Thursday appeared first on DML News.
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