Ongoing concerns around rising interest rates fueled sharp declines on US equity markets - Dow tumbled -832-points or -3.15% to close near its session lows, with Intel Corporation and Microsoft both falling more than >3.5% and leading all 30 index components into the red. The broader S&P500 slumped -3.29%, with all primary sectors closing in the red. The NASDAQ 4.08%, with Netflix Inc sliding -8.4% and Amazon.com Inc -6.2%. President Trump shared his latest criticism of the Federal Reserve in the wake of the steep equity market falls - "I think the Fed is making a mistake. It’s so tight, I think the Fed has gone crazy". For October to date, the Dow and S&P500 are down over >4.4% and >3.3% respectively, while the Nasdaq has lost more than >7.5%. Futures for the Dow Jones Industrial Average are pointing down ~0.7% following the sharpest one-day decline for the Dow since February.
