On Friday, the Wall Street witnessed a sharp fall because of the volatile trading in the market.
The Nasdaq also confirmed that it is in a bear market because of the concerns of the economic growth slowing down which has therefore led the investors to flee the stocks from the sectors which have high valuation like technology as well as the communication services.
There was acceleration in the declines of the major stocks of the United States Navarro who is the adviser of the White House stated that the trade deal between the United State and China might not be closed at the end of the 90 day negotiating window unless and until China agrees that it will profoundly overhaul all of its economic policies.
From its high from the 29th of August, the Nasdaq has nearly fallen by about 22 percent because of the losses that has incurred on Friday.
The index of the tech-heavy has witnessed a drop to its lowest level since the August of 2017.
S&P 500 index which is the benchmark index has also hit its lowest level since the July of the year 2017.
The index is now pacing towards its biggest decline in terms of percentage in the month of December since the Great Depression.
Since its closing high on the 20th of September, the S&P 500 index has witnessed a decline by almost 17.5 percent.
Since the October of 2017, the Dow Industrial has also witnessed a fall to its lowest level by decreasing by 16.3 percent from the 3rd of October when it had closed at a high.
S&P 400 which is the mid cap also confirmed that it is currently in a bear market.
The president of the United States, Donald Trump, stated that the government might pass a funding bill.
Source: Reuters, Money Control
