US equity markets recorded their steepest declines in two months to open the new trading week as investors eye the Jackson Hole Economic Symposium later this week and worry that the Federal Reserve may strike a more hawkish tone - Dow fell -643-points or -1.91%, The broader S&P500 shed -2.14%, with Consumer Discretionary (-2.84%), Information Technology (down -2.78%), and Communication Services (-2.67%) all dropping over >2.5% to lead all eleven primary sectors lower. Both the Dow and S&P500 logged their steepest single session declines since 16 June. The Nasdaq dropped -2.52%, recording its largest single session fall since 28 June. Netflix Inc dropped -6.06% after analysts at CFRA downgraded the streaming giant, noting that a key catalyst for the company - introducing new ad-pay subscription plans – “may not be visible until 2023.” The small capitalisation Russell 2000 lost -0.49%.
