Sinking US stocks  spillover risks as  interest rate hike plan

The US stock markets on Friday declined heavily after Jerome Powell, Chairman of the Federal Reserve reaffirmed his plan to keep raising interest rates 

Asia analysts warning about double spillover risks from America's current situation into other countries

With his comments, Powell is sending a clear message to financial markets that the Federal Reserve plans on hiking interest rates

The Dow Jones Industrial Average fell 3% after being reactions to his comments with 1k popping up like weeds everywhere

This is not good news since it means more money spent by consumers and less revenue coming in

which could lead us into another economic bubble burst scenario sooner rather than later-or worse still depression

The US Federal Reserve announced on July 27 to raise interest rates by 75 basis points

the fourth time this year they have done so and second in a row with an increase of just over half their original size.

The dollar index gained on Friday after the Fed chief adopted a more hawkish tone to battling inflation

The currency was last at 108.83, up 033% over this time period following an increase in demand for Dollar assets due primarily from investors