Morning Report 16 Nov 22: US sharemarkets fell sharply on Thursday

The US Federal Reserve's guidance for protracted policy tightening reduced hopes of the rate-hike cycle ending anytime soon and increased worries about a potential recession. Shares of Netflix slid 8.6% on media reports that the company would let its advertisers take their money back after missing viewership targets. Megacap technology shares Apple (-4.7%), Alphabet (-4.4%), Amazon (- 3.4%) and Microsoft (-3.2%) all weighed on major indexes. At the close of trade, the Dow Jones index fell by 764 points or 2.3%, its worst day since September. The S&P 500 index lost 2.5%, with the Nasdaq index down by 360 points or 3.2%.

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