US equity sell-off wipes out 2018 gains as Nasdaq suffers correction

Concerns about corporate and economic growth

US equities plunged in yesterday's trading session, with the Dow slumping over 600 points and the Nasdaq falling into correction territory, on fresh concerns about corporate and economic growth.

Investors have been flocking to top-performing US equities markets this year, despite it being late in the cycle, drawn by strong economic growth and the boost to corporate America from President Donald Trump's package of tax cuts, as well as the index-leading performance of the technology giants. However, stocks have been badly hit in October with industry commentators warning the equities sell-off earlier in the month could be the start of a more volatile period for markets in the face of a "toxic cocktail" of risks. The last few days have seen another hammer-blow to shares, which h...