Wall Street ended sharply lower on Tuesday, with the NASDAQ closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Federal Reserve.
China’s COVID-19 led lock-down and an aggressive pivot by major central banks to fight inflation have overshadowed what has been a better-than-expected quarterly earnings season so far. Specifically, the fear spreading through financial markets reflects lower growth projections for China, the world’s second largest economy.
“I think with where the market is right now, in this indiscriminate selling and fear phase, I think you’ve got more potential for downside risk than you have for an upside surprise”
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