Don't peek at the 401(k) on Monday. To say the stock market opened in negative territory would be an understatement. In the opening minutes after the opening bell, the benchmark S&P 500 fell 4%; the Dow plunged more than 1,100 points, or nearly 3%; and the tech-focused Nasdaq fell more than 5%. The steep declines follow similarly bleak days in markets overseas—particularly in Japan—amid rising fears of a US recession.
- Of note, Nvidia was down 9%, Apple 8% (after Warren Buffett's Berkshire Hathaway slashed its stake in half), Tesla 7%, Broadcom 9%, and Super Micro Computer 9%, per CNBC.
- Cryptocurrency continued its own slide, with bitcoin falling below $50,000 for the first time since February.
- Investors fled to the safer haven of bonds, pushing US Treasury yields sharply lower, per the Wall Street Journal.
"It's painful," Victoria Greene of G Squared Private Wealth tells CNBC. "I think there's a lot being absorbed that happened over the weekend between Berkshire cutting Apple. ... You had the Japan sell-off. ... You have the yen spike. ...You have a lot of bad news getting priced in." She called it "a pullback, a correction." (More stock market stories.)
,
uBlock 
,
and
Ghostery 
)
