mo4ch:>Market mayhem: Dow down 550 points, tech wrecked, losing over $1tn in value | Mo4ch News

Stocks continued to crash on Wednesday, led in part by a decline in US technology shares, which had helped to propel Wall Street’s long bull market.Asian markets fell following a two-day sell-off on Wall Street. The Shanghai Composite Index was down 0.05 percent, while Japan’s Nikkei fell 0.35 percent. Earlier on Tuesday, the Nasdaq closed at its lowest in more than seven months with the S&P 500 and the Dow Jones finished at their weakest levels since late October.US stocks are already in a bear market, Morgan Stanley warned, explaining that more than 40 percent of the S&P 500 is down 20 percent from recent highs. Wall Street defines a bear market as a fall of 20 percent or more from a stock’s 52-week high.“The market is speaking loudly that bad news is coming,” said Morgan Stanley equity strategist Michael Wilson.As investors continued to flee from the tech darlings that once carried the market higher, the five “FAANG” (Facebook, Amazon, Apple, Netflix and Google-parent Alpha…