The Market Is Freaking Out Over the Potential for a Perfect Storm: Fed Tightening, Shaky Mega Banks, and a Sharp Decline in Household Wealth

The Dow Jones Industrial Average dropped 1,276 points yesterday for a decline of 3.94 percent. The Dow’s losses were outpaced by the tech-heavy Nasdaq, which gave up 632.8 points for a drop of 5.16 percent.