➡️ Clean and Swift.
Global economic crash fears: Huge selloff rocks stock market as bond yields climb
Investors have rushed to sell off technology stocks which has caused a drop in the US stock exchange. Due to the sell-off in stocks, the Dow Jones has fallen by 434 points (1.2 percent). The Nasdaq Stock Market, the second-ranked US exchange, fell by 2.29 percent in trading.
The fall in share price has been driven by high bond yields, which have caused expensive stocks to fall in value.
As reported by Bloomberg, the rush to sell off technology stocks has seen a $1.5trillion (£1.1billion) run.
In the first week of this year, some of the most expensive stocks have fallen by 10 percent.
Morgan Stanley’s Michael J. Wilson said in a note to clients that he expects valuations to continue to fall.
He said: “We’ve never seen stocks this expensive for the overall market, which means valuations are likely to come down more before we’re through with this correction.”
Due to the quick sell-off in stocks, the Cboe Volatility Index has risen rapidly since last Friday.
The index measures volatility expectations over the next 30 days.
On Friday, the index had stood at 18.95 but has now surged by 19.3 percent today to 22.38.
Experts have pointed to the drop in US 10-year Treasury bonds which is now at 1.8 percent.
It is thought investors will not purchase bonds amid fears over the impending increase in inflation.
Michael Hartnett from the Bank of America tech giants such as Apple Inc, Amazon and Alphabet, Google’s owner, Meta Platforms and Microsoft, are all down to six to 13 percent.
The European Stoxx 600 market also closed 1.3 percent down on Monday.
Kazakhstan intelligence chief who was Hunter Biden’s ‘close friend’ and posed with him and Joe is charged with treason during protests that have seen 160 killed and 8,000 arrested
- Karim Massimov ran Kazakhstan’s National Security Committee until he was fired by the country’s embattled president late last week
- He and other unnamed intelligence officials were arrested the day after firing
- Hunter Biden once called Massimov a ‘good friend’ in an email from 2016
- An undated photo appears to show Joe and Hunter Biden smiling alongside Kazak businessman Kenes Rakishev as well as Massimov
- It was originally published by an anti-corruption group called the Kazakhstani Initiative on Asset Recovery and has not been independently verified
- Reports claim that Hunter traveled all the way from Paris to Kazakhstan without his Secret Service detail in 2014 to discuss a Burisma deal with Massimov
- The photo resurfaced in 2020 after reports claiming that emails found on Hunter’s laptop could implicate Joe in his son’s international business dealings
Bring the whole thing down , down,
down . 😡🤮👿