• U.S. stocks swooned for a second day Thursday after the Federal Reserve raised benchmark interest rates and said that it would continue to let its massive balance sheet shrink at the current pace. Fears of a government shutdown also sent stocks tumbling to new lows Thursday afternoon.

The Dow Jones Industrial Average fell 464.06 points to 22,859.6, bringing its two-day declines to more than 800 points and its 5-day losses to more than1,700 points. The S&P 500 fell 1.5 percent to finish at 2,467.41 as technology stocks underperformed. The Nasdaq Composite fell 1.6 percent and closed at6,528.41, briefly dipping into bear market territory amid big losses in Amazon and Apple. The Nasdaq is 19.7 percent below its recent high. Companies in the S&P 500 have lost a total of $2.39 trillion in market cap this month. The Cboe Volatility Index — one of the market’s best gauges of marketplace fear — rose above 30.

The Dow and Nasdaq posted their lowest closes since October 2017, while the S&P 500 finished at its lowest level since September 2017.

• European markets closed Thursday’s trade deep in the red, echoing the negative sessions seen in markets overseas.

Falling to its lowest since at least December 2016, the pan-European STOXX 600 finished down 1.45 percent, with all major sectors posting sharp losses.

Looking at bourses in the region, the FTSE 100 slipped 0.8 percent, while the French CAC 40 and German DAX extended losses, down 1.78 and 1.44 percent respectively. All peripheral markets closed sharply lower too.

• Stocks in Asia were broadly lower on Friday morning following the overnight market rout on Wall Street. The U.S. Department of Justice also charged two Chinese nationals on Thursday for participating in a global hacking campaign.

The Nikkei 225 in Japan saw a continued downward slide on Friday after declining by more than 2.5 percent in the previous trading session. In early trade, the benchmark index slid 0.58 percent. The Topix index also fell 0.84 percent.

On Thursday, the U.S. Justice Department announced charges against two Chinese nationals for being part of a global hacking campaign. The two individuals, Zhu Hua and Zhang Shilong, are charged with conspiring to commit computer intrusions and wire fraud, as well as aggravated identity theft. It was part of campaigns that lasted for years, as they sought to steal from several foreign governments and dozens of companies. The two men remain at large.

Reference: CNBC