Shares were losing ground even before the start of trade after Federal Reserve Chair Jerome Powell indicated that aggressive increases in interest rates were needed to fight inflation.
Other central banks have also moved to raise interest rates to try and temper the impact of rising prices on businesses and consumers.
But policy makers think the economy is on solid ground and and that they can avoid triggering a recession while putting a lid on inflation.
“We continue to expect two 50-basis-point rate hikes in May and June,” Rubeela Farooqi, chief U.S.
We have been saying for some time that the only way to protect your investment portfolio is to be cautious on equities and buying gold, oil and the U.S.