ASX set for heavy losses as Wall Street’s dive gets worse

The sell-off in US stocks accelerated, wiping out gains for the year in both the S&P 500 Index and the Dow Jones Industrial Average, as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth. Treasuries rallied for a second day on demand for haven assets.

via ASX set for heavy losses as Wall Street’s dive gets worse