US stock indices prolong losses and the Nasdaq falls sharply

Major US equity indices fell in opening on Monday, continuing a sell-off from last week as investors’ risk appetite was hurt by concerns over escalating tensions between Russia and the West over Ukraine in view of a key meeting of the Federal Reserve.

The Dow Jones Industrial Average began the trading session in fall of 0.57% to 34,070.61 points, but quickly aggravated its losses to 2%.

The benchmark Standard & Poor’s 500 index fell 0.95% to 4356.32 points, to continue its 2% decline, while the Nasdaq Composite Index fell 2.09% to 13,481.50 points, hence the losses increased to 3%.

Wael Makarem, chief market strategist at Exness, he said in an interview with “Al Arabiya” that Wall Street’s steep declines have continued since last week and are expected to restore valuations that were 4 or 5 times higher than their previous position after the previous hikes and the accompanying sharp correction.

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