YAHOO NEWS: Wall Street down sharply on Apple and China fears
Also sounding something of an optimistic note: John Williams, the New York Federal Reserve Bank president.

"I expect real GDP to increase only modestly this year, and in 2023."

Williams told the New York Economic Club that he saw the Fed maintaining it's policy of interest rate hikes to combat inflation, but said he was already seeing signs that the rate hikes were having the desired effect and did not forecast an economic recession.

"It will take some time, but I'm fully confident that we'll return to a sustained period of price stability."

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