The global market decline since Friday has accelerated, hitting cryptocurrencies hard. The US media is abuzz with rumors about the Fed's "emergency meeting" to cut interest rates before the expected decision on September 18.

Here's what's happening:

- Recession fears: The market's sharp decline reflects growing concerns that the US economy is falling into recession.

- Traders are nervous: Speculation is building about an emergency Fed meeting to cut interest rates. There are currently 60% expectations for an interim meeting.

- Interest rate cut: Even without an interim meeting, a 50 basis point cut in September seems almost certain.

Bond yields dropped sharply:

- The yield on 2-year US Treasury bonds has fallen to 3.9%, the lowest level since last year's banking crisis.

- German bonds also hit a 7-month low, showing widespread concerns.

In-depth look:

“The market is worried that the Fed is now slow to move the economy from a soft downturn to a hard recession,” said Tracy Chen, portfolio manager at Brandywine Global Investment Management. Investing in bonds now makes sense.”

Stay tuned and stay smart, traders! This can be a critical moment for your strategy.