Bloodbath on the US stock market:

S&P 500 fell by 2.95% - only 16 companies in the green, while 484 are in the red

Sales on Wall Street triggered by the Federal Reserve's revised interest rate forecast

The weighted average long-term rate has been increased, and only two rate cuts are planned for 2025.

The Dow index fell by 2.58% while the Nasdaq Composite lost 3.56%

The Fed also lowered its unemployment forecast and raised expectations regarding core inflation and economic growth, resulting in a rise in Treasury bond yields.

DXY hit a new high for this year at 108.2

High leverage and open interest in futures in the evening triggered cascading liquidations.