Fears of a recession loom as the bear market shades over Wall Street, amid stocks, bonds, and cryptocurrency prices down.
The prospects of a US recession are increasing, according to Goldman Sachs, with the Fed set to raise rates by 75 basis points in its next two sessions.
As curves invert, Bloomberg worried Wall Street's favourite recession warning is returning.
AP confirmed symptoms of recession; rising interest rates sent the S&P 500 more than 20% below its record set early this year.
On Monday, the Dow fell by 876.05 points, while the Nasdaq composite fell by 530.80 points.
When a bear market coincides with a recession, stocks have dropped over 35% on average, according to analysts.
Today (Tuesday), Bitcoin plunges below $21,000; it reached the highest of $68,000 last year.
The Federal Reserve has indicated that it will hike interest rates quickly to try to control inflation.
New home sales are down by 16.6%, treasury yields are at a 14-year high of 3.15%, and the CPI is at 8.6%, fueling panic.