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Wall Street Losses Rip Through Global Markets

Global markets plunged Thursday, continuing steep losses seen in the previous session, as investors worry about rapidly rising interest rates and an expected slowdown in global growth.

At around 5:50 a.m. ET, Dow futures sank 228 points, indicating a sharply lower open of 319.74 points. Futures on the S&P 500 dropped indicating a negative open of 29.78 points, while Nasdaq futures signaled a negative open of 75.50 points. This after stocks sank Wednesday with the Dow plunging more than 800 points in its worst drop since February.

The VIX, which is seen as a fear gauge for the market, hit a new six-month high of 24.1 points on Thursday morning.

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