A rout in the riskier corners of the global market deepened, with stocks plunging and traders rushing to the safety of bonds as concerns about a slowdown in the world’s largest economy intensified.

From New York to London and Tokyo, equities got pummeled. About 95 per cent of the shares in the S&P 500 got hit, with the index on track for it biggest slide in almost two years. Losses were more pronounced in the big tech space, with the Nasdaq 100 heading to its worst start to a month since 2008. A gauge of the “Magnificent Seven” megacaps like Nvidia Corp. and Apple Inc. plunged almost 10% at one point.