The better-than-expected employment report for September indicated that the economy is not cooling down fast enough and has paved the way for a further massive rate interest hike by the Federal Reserve in November. An expected increase in borrowing costs has caused a fresh bout of panic in the stock market.
The Nasdaq composite slipped into a bear market for the second time this year. Also, the S&P 500 and the Dow Jones are already in bear markets, defined by a decline of 20% or more from their recent peaks.
