In Europe, Italy’s new government clashed with the European Union over the nation’s budget threatened to spread to other euro-based economies.

Related – Stock Massacre: Dow Plummets Over 800 Points

Back in the U.S., American interest rates are climbing, something that weighs on corporate earnings and the ability of consumers to spend money. The possibility that the U.S. central bank will accelerate its interest rate hikes weighed on investor sentiment.

Unless technical indicators like the moving average warrant concern in the markets, it’s best to muffle the current selloff noise to preserve profits.

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