Markets Drop Amid Economic Fears as SBF Trial Starts and Automakers Cut Jobs

Markets fell sharply this week, with the Dow losing 454 points on Tuesday amid fears of rising rates, political dysfunction, and seasonal volatility.

The trial of Sam Bankman-Fried, accused of fraud in the FTX crypto collapse, kicked off Tuesday with jury selection.

GM and Ford are laying off 500 more workers due to the UAW strike expansion, blaming the knock-on effects.

Oil prices remain near their highest level in over a year despite economic fears.

October has a history of spooking markets, from the 1929 crash to Black Monday in 1987.