Trends across markets deepened in the third quarter on hopes that monetary tightening would ease soon, sending bond yields soaring and putting US stocks on track for their worst year since the financial crisis. financial crisis of 2008.
The increasingly sharp decline has alarmed investors who entered the quarter enjoying a summer rally, halving the S&P 500’s 2022 losses before becoming puzzling. As the months passed, hair-raising moves snuffed out any remaining sense of security, with the major stock indexes suffering their deepest single-day declines since 2020 and key bond yields. government interrupted their rally to hit the biggest daily pullback of the year.