In (Wall Street) Before Monday’s opening session: the S&P and Nasdaq down, Apple and Nvidia shares fall 10%

Pre-market orders indicated a decline in the S&P index by about 3% and a loss of more than 4%, while Apple and Nvidia shares lost 10% on Wall Street

With growing concerns about a slowdown in the US economy, traders increased their bets that the Federal Reserve will intervene with an emergency interest rate cut, putting the chances of a quarter-percentage-point cut at 30%.

The yield on the 10-year Treasury note fell to its lowest level in a year. The Chicago Board of Trade volatility index, a measure of fear on Wall Street, rose to its highest level since 2020.

The losses spread to Europe, where markets opened their trading down by more than 3%. Japanese stocks also collapsed by the most in more than a decade. The plunge in Japanese stocks also wiped $15 billion off the value of SoftBank Group Corp. after the company’s biggest one-day drop since founder Masayoshi Son took the company public in 1998. The tech giant’s shares fell 19%, extending its September-to-date decline to 38%, the biggest such drop since 2001. The global turmoil spilled over into the cryptocurrency market, with bitcoin down about 16% to $52,740, while ether, another cryptocurrency, fell about 17% to $2,200.