Biggest Value Dive in Six Years — Wall Street Plunge

US futures indicate opening losses as equity sell-off continues

Fahad Kamal, senior market strategist at Kleinwort Hambros, agreed and said to "keep calm and carry on". There is no need to panic. "We've had none since 2016", he said. If the S&P reaches a decline of 13%, trading is halted again for 15 minutes.

The broad index had traded positive earlier on Monday as the tech sector briefly rose.

US Securities and Exchange Commission Chairman Jay Clayton said he "can't really say" what caused the dramatic drop in stock prices during recent trading sessions, but that all signs indicate financial markets are functioning normally.

Talking to reporters aboard Air Force One, White House Deputy Press Secretary Raj Shah downplayed the sudden Dow drop. Yields are still very low.

On Monday, Jerome Powell was sworn in as the new chair of the US Federal Reserve.

What happened in the US?

. "If it now takes hold and gets out of control, central banks will be forced into action". In London, the FTSE 100 closed at 7337.45 and opened at 7,176.22 before swing back up to 7,195.70 at 10:00 GMT. She has been criticised for not raising interest rates quickly enough to curb inflation. And they do that for a number of reasons. European indexes were down about 2 percent, while Japan's Nikkei lost 4.7 percent.

"The President's focus is on our long-term economic fundamentals, which remain exceptionally strong".

The 1,175.14 drop on the Dow is the biggest point drop in one day.

Markets in Asia tend to follow US-branded trend. The Dow began Tuesday up about 6,000 points since the election.

Many analysts see worries about higher US interest rates and excessive valuations as the catalyst for a pullback that was amplified by computerised trading mechanisms that can exacerbate movements in stocks.

Prices could come under pressure the rest of the week as Fed rate hike expectations are likely to continue to rise. According to the latest statistics from the Investment Association, multi-asset funds have been proving popular, with the mixed investment 20-60% shares and mixed investment 40-85% shares sectors the second and fourth most popular respectively in December.

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