Yesterday’s Tuesday became the worst day for one of the most difficult years for financial markets in last half of the century, Bloomberg writes. Investors almost have no choice. Stocks have been falling for two consecutive days, oil price fell to the level last seen a year ago, and even credit market that seemed immune cracked. Bitcoin gets lower and lower. At the same time traditional safe heavens, including US Treasuries, gold and yen, stay still.

S&P 500 lost all its 2018 gains with every sector of the index falling yesterday. Investors do not believe that this fall will slow down in nearest future and ask questions: what shall they expect in future? Economic recession or slower growth?

Such harmonized slump in the markets is explained by pessimistic forecasts for the future. Corporate earnings most likely reached the peak, US and China trade conflict is escalating, while rising interest rates in the US threaten credit market. Selloff of IT-companies makes the situation worse.

Asian market continued showing losses on Wednesday: Nikkei 225 Stock Average lost 1%, Hang Seng in Hong Kong fell by 0,5%.

Analytics assume that interest rates hikes shall be stopped until it will be clear that it will not trigger recession.