relations council says the number of hate crimes last year jumped continuing the trend from 2015. october was a frightening month for investors. from hong kong to new york, investors slammed by a wave of fears of higher interest rates and trade wars. nasdaq fell 9% in october. the biggest drop since november of 2008. a sweet halloween rebound on wednesday, but the s&p lost nearly 7% last month. it s worst month since september of 2011. despite the dow rally, it shed 5% for the month. capital markets said october was a normal correction. we needed to take some complacency out of the market. that is what we have done. we believe this is a bull market correction within a secular longer bull market.
istanbul? they were hoping to get the answers from the saudi chief prosecutor during his three-day visit here, but that did not happen. one senior turkish official telling cnn that the saudis were more interested in finding out what evidence the turkish government had than providing cooperation in the investigation. perhaps something is done to put pressure on the saudis. jomana, thank you. a check of cnn business. asian stocks kick off november up. the nikkei is down. hang seng and shanghai up. u.s. futures are positive. dow is 240-point gain to cap off october. the nasdaq up 2%. trimming the decline to 9% for the month. october was the nasdaq s worst month since november of 2008. the steepest monthly decline since september of 2011.
rising rates. the s&p 500 has fallen 7% in october and nasdaq down 9%. that is the worst month since november of 2008. looking ahead to the gdp. the president promised 4% annual growth. last quarter, he got 4.2%. will it last? this forecast for the quarter is 3.3%. here is what the trend looks like. the spike in economic growth is why the president has complained about his fed chief powell and the fed slowly raising rates. hiking rates to prevent the economy from overheating. but peter navarro, the trade adviser, is on his side. i agree with the president. the fed, it is an independent agency, i agree with the president s sentiment they started to raise rates too fast. the fed will release the gdp
that is its best day since march. the nasdaq went into official correction on wednesday. we are coming to grips with rising rates and trade war holding back a booming economy. the s&p 500 has fallen 7% in october. nasdaq on track for the worst month since november of 2008. looking ahead to the gdp. a favorite economic stat of the president. last quarter, he got 4.2% growth fueled by consumer spending from the tax cuts and corporate investment. will it last? the forecast this quarter is for 3.3%. here is the trend. see that? the spike in economic growth is exactly why the president has complained about the fed chief jerome powell. the fed hiking rates to prevent the economy from overheatinover.
around here ten minutes could make all of the difference. however exactly. if gary cohn was saying they are lying to the president, there is one thing that the president has been saying, i don t know who whispered this in his ear, but since we have trade deficits with everybody and we don t but let s say that you took the president at his word, since we have trade deficits with everyone, a trade war doesn t hurt us. it hurts them. that is why it is a good thing. that is just nonsense. and history is unambiguous on this. one of the reasons that the g-20, the 19 yurcountries plus european union gathered in november of 2008 and explicitly said let s avoid protectionist policies as a collective global effort to avoid the mistakes of the great depression and trade wars are devastating. now hopefully we won t get there and right now we re talking about corrosive not cataclysmic policies but they are like that nuance of a leaky pipe. they are a nuisance until it