• U.S. stocks plunged around 4 percent on Thursday in another dramatic session, confirming a correction that has thrown the market’s nearly nine-year bull run off course.
The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by Friday’s January U.S. jobs report, with investors pointing to additional pressure from the violent unwinding of trades linked to bets on volatility staying low.
• “What we’re seeing today is continued concerns around interest rates going higher, around valuations in the stock market,” said Chris Zaccarelli, chief investment officer with Independent Advisor Alliance in Charlotte, North Carolina.
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• Asian shares took a tumble early on Friday, taking cues from U.S. indexes which extended sharp losses in the last session.
• Japan's Nikkei 225 fell 2.95 percent in early trade, with losses seen in most sectors. Automakers, financials, manufacturers and technology stocks traded firmly in negative territory.
The Nikkei 225 is in correction territory, having declined around 12 percent from its 52-week high.
Reference: Reuters, CNBC
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