Ugly selloff in US pushes shares down most since 2020

Across the board selling sent the S&P 500 down more than 4%, while the tech-heavy Nasdaq 100 losses surpassed 5%. (Image: Getty)

Bloomberg

Wed, 14 Sep 2022

By Stephen KirklandA broad-based selloff sent equities to their worst day in more than two years after hotter-than-expected inflation data fuelled bets on a jumbo hike by the Federal Reserve next week. Treasury yields surged and the dollar gained.Across the board selling sent the S&P 500 down more than 4%, while the tech-heavy Nasdaq 100 losses surpassed 5% as yield-sensitive stocks took the biggest hit. Both benchmarks suffered their worst one-day routs since 2020. Swaps traders are now fully pricing in a rate increase of three-quarte...

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