The past week has been the worst for the Dow Jones Industrial Average since the worldwide financial crisis witnessed in 2008, as the Dow Jones dropped 1,655 points, which accounts for approximately 7% drop in its most terrible week-on-week decrease in the past decade. Sadly enough, there is not a single clue for the recovery action taking place anytime soon.
According to the reports, the Wednesday’s rate hike of the Federal Reserve and concerns over an extended shutdown of the government on Friday contributed to the substantial losses experienced in the financial marketplace. Apart from the Dow Jones, the S&P 500 also dropped 2.1%, while Nasdaq dropped 2.99%, subsequent to substantial losses recorded in tech stocks, including Facebook, Amazon, and Apple. Both S&P 500 and the Dow Jones have seen the red this year, dropping by no less than 9%, and both are getting ready for what seems to look like their most terrible December action ever since the Great Depression times.
Meanwhile the Dow Jones is eyeing a potential recession subsequent to almost a decade of bullish sentiment in the equity market, BTC is facing some reprieve subsequent to suffering through its own bad year, dropping from the 19,500 USD high over the entire year, until it became no longer able to regain its glory in the wake of extreme volatility. As of now, there are no certain predictions for when the current state of the market will come to a close.