Over $1.15 trillion wiped from the US stock market in a single day

Wall Street suffered a major blow as over $1.15 trillion in market value was wiped out, driven by inflation fears, rising interest rates, and global economic concerns. The S&P 500 dropped over 3%, the Dow Jones fell more than 900 points, and the Nasdaq saw a sharp tech-led selloff.

Experts attribute the collapse to persistent inflation and the Federal Reserve’s aggressive rate hikes, alongside supply chain disruptions and profitability concerns. High-growth sectors, including tech and finance, were hit the hardest.

While some analysts view the decline as a temporary correction, others warn of prolonged volatility. Investors now await signals from the Fed and key economic data to assess whether this selloff is a short-term dip or the start of a deeper downturn.