US Stock Market and Crypto Markets Experience Significant Crash

The US stock market and cryptocurrency markets are facing a tumultuous time as both experience significant declines. The tech-heavy Nasdaq 100 Index has seen a drastic drop of 570 points, while the S&P 500 and Dow Jones fell by 100 and 280 points, respectively. This downturn is largely attributed to concerns about the Federal Reserve's upcoming decision on interest rates, which may lead to increased borrowing costs for investors.

Furthermore, strong job growth numbers released last Friday have raised fears of inflation, prompting the Federal Reserve to adopt a more aggressive stance against rising prices. The latest report showed that the economy created over 172k jobs, exceeding expectations and contributing to concerns about potential interest rate hikes.