1 min read.Updated: 05 May 2022, 10:33 PM ISTLivemint
The S&P 500 fell 3.7% as of 11:55 a.m. The Dow Jones Industrial average stumbled 1,100 points, or 3.3%, to 32,945 and the Nasdaq lost 5%
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The pound slumped on Thursday after the Bank of England flagged a possible recession and double-digit inflation, while Wall Street tumbled after having jumped the previous day on the Federal Reserve holding back on aggressively raising rates.