‘We are nowhere near the bottom,’ top economist says as global markets crater

"The Dow Jones Industrial Average plunged more than 1,000 points on Thursday and the
Nasdaq Composite fell nearly 5%, erasing a rally on Wednesday. Initial relief over the U.S. Federal Reserve’s ruling out of more aggressive rate increases seemingly gave way to fears that a sharp hiking cycle in order to rein in red-hot inflation could harm economic growth. Rosa said he expects the war in Ukraine to last much longer than many market participants are anticipating, adding to other headwinds such as supply chains issues, soaring inflation and rising interest rates." CNBC