Do repost and rate:
In the span of a month, the bottom has dropped out of the bull-market rally as investors have come to grips with the prospect of “higher for longer” interest rates worldwide. The sell-off in global stocks and bonds picked up steam on Thursday. And weary market watchers will be looking for more hints on the Fed’s view at next week’s Jackson Hole summit of central bankers and policymakers.
Technology stocks have been hit particularly hard. The high-flying FANG+ Index — which comprises the largest tech stocks by market capitalization, including Apple, Nvidia, Tesla and Meta — fell into correction territory on Thursday. The group of Nasdaq heavyweights is down nearly 11 percent since July 18.
Image
