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US stocks fall sharply Bank of America loses 22B
The U.S. markets experienced sharp declines, with Bank of America losing around $22 billion in market value in a single day. This came amid the Dow Jones Industrial Average dropping approximately 1,300 points over the last six sessions. The likelihood of a 25 basis point interest rate hike increased to about 90%, while the yield on U.S. Treasury bonds approached 5%, the highest level in three years, fueling financial concerns. In the technology sector, Nvidia continued its losses for the fifth consecutive session, as selling pressure persisted on semiconductor stocks, adding to the overall strain on the American markets.
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