Equity flows remained weak with Wall Street's major stocks suffering their biggest losses while the US dollar and Treasury yields continued to surge higher.
Gloomy news was seen filling the market with the US central bank's plans to continue raising rates amid market uncertainty, with the Pound falling to new lows defying hopes for a rally in equities.
The streak, Dow Jones Industrial confirmed bearish with its index falling 1.11% at 29,260.81 while the S&P 500 fell 1.03% which is a new low of 2022 at 3,655.04 and the Nasdaq Composite fell 0.6% at 10,802.92.
Looking at Wall Street's gauge of fear, the VIX rose around 6% for the first time since October 2020.
Also experiencing the same situation is the European STOXX 600 index when it dropped 0.42%, which is the lowest level since 2020.
Nevertheless, equity movements in the Asian region showed a positive opening with Japan's Nikkei 225 up 0.65% while the Topix reached 0.66% and Australia's S&P/ASX 200 added 0.46%.
South Korea's Kospi opened higher and the Kosdaq gained 0.64% while MSCI's broadest index of Asia Pacific shares outside Japan was flat.
A currency roundup saw the dollar up 0.8% at $114.06 as the British Pound slipped to an all-time low of around $1.034.
Meanwhile, US Treasury yield also reached a new high with the 2-year note rising 4.315% which is the highest level in 15 years and the 10-year note jumping 3.894%.
For commodities, US crude fell 2.5% to $76.75 and Brent was down 2.5% to $84.04 while spot gold was down 1.2% to $1,623.4.
