The market rout deepened in the third quarter as hopes faded that monetary tightening would soon ease, pushing bond yields higher and leaving U.S. stocks on course for their worst year since the crisis. 2008 financial.
The deepening declines alarmed investors who entered the quarter profiting from a summer rally that more than halved the S&P 500’s losses in 2022 before collapsing. Hair-raising moves over the months shattered any remaining sense of security, with major equity indices suffering their deepest one-day declines since 2020 and government bond yields halting their ascent to register their biggest daily declines For years.
