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wall Streetamp;#39;s main indexes plunged on Monday amid a global stock market meltdown the selloff in the US pummeled the Magnificent 7 stocks including Apple Nvidia and Amazon the main drivers of the Samp;amp;P 500amp;#39;s gains this year set to lose a combined $650 billion in market value it follows US economic data last week including a weaker than expected jobs report that stoked recession fears bond yields slipped as investors bet the US Federal Reserve would now need to cut interest rates more aggressively than expected to Spur economic growth but Scott Ren senior Global Market strategist at Wells Fargo doesnamp;#39;t believe thatamp;#39;s necessary and said the sell-off was mostly an overreaction to a cooling economy that he believes will avoid a recession I think we have a combination of uh a growth scare and a Fed policy scare so in other words we went from um you know months and of whenamp;#39;s the FED going to ease and how much are they going to ease this year and n