Nasdaq composite dropped 3.2%, likewise its worst decline since Nov. 2.If you're wondering about the significance of Nov. 2, it was a day when the Fed lifted interest rates by three-quarters of a percentage point, accompanied by hawkish comments from Fed chair Jerome Powell, who said the central bank still had "a ways to go" before it stopped hiking.Wednesday, saying there would be more pain to come for the economy, as the Fed continued raising rates.
The S&P 500 is down now down 18.3% for the year, putting it on track for its worst performance since 2008.
Don't worry there will be a Santa Claus rally
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