Stocks Suffer Worst Monthly Rout Since March 2020: Markets Wrap
- Manchin wants Biden social-spending plan cut to $1.5 trillion
- Congress clears government funding bill to avert shutdown
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Volatility continued to roil financial markets, with U.S. equities notching their biggest monthly selloff since March 2020.
Stocks pushed lower on Thursday even after confirmation that the House passed a nine-week spending bill to avert a U.S. government shutdown. For traders, that was just one within a litany of risks. Investors are also bracing for the Federal Reserve to wind down its stimulus amid mounting fears about slowing economic growth, elevated inflation, supply-chain bottlenecks, a global energy crunch and regulatory risks emanating from China.