The markets are ending the week on a low note as the global selloff continued in Asia and Europe this morning, prompted by rising uncertainty stemming from the U.S. economy. Doubts about a much-anticipated December interest rate cut from the Fed are mounting, with the likely outcome obscured by patchy data after Washington’s government shutdown.
Wall Street was bumpy yesterday. The S&P 500 and Dow Jones posted contractions of more than 1.6%, while the Nasdaq Composite fell by 2.3%. The VIX volatility index shot up by more than 20%, suggesting that skittish analysts expect the turbulence to continue.
