US equity markets fell sharply as weak economic data in Europe and China and the latest moves on global markets fuelled recession concerns - Dow tumbled -800-points or -3.05% (to 25,479.42 and falling below its 200-day moving average (25,585.34) for the first time since early June), logging its worst percentage decline of 2019. The broader S&P500 -2.93%, with Energy (down -4.12%) and Financials (-3.56%) leading all eleven primary sectors lower and with all but three index constituents falling. The S&P 500 Financial Sector dipped into official correction territory, falling more than >10% below its most recent high. . Citigroup Inc (down -5.28%), J.P. Morgan Chase & Co (-4.15%) and Bank of America Corp (-4.69%) though not yet in a bear market, were all in correction territory, down more than 10% from their 52-week highs. NASDAQ -3.02%. August has been a volatile month for the US equity markets thus far. Including the overnight session, the Dow has moved more than >200 points in either direction on seven occasions this month.
