Wall Street is set for another big sell-off, with two-thirds of S&P 500 stocks in correction territory

BY THE NUMBERS

Futures were sharply lower this morning after the Dow on Wednesday plunged nearly 832 points, or 3.15 percent, in its worst sell-off since February. The S&P 500 suffered similar losses, marking a five-session losing streak, which was the longest in nearly two years. The Nasdaq tanked 4 percent, in its biggest one-day loss since June 2016.

Meanwhile, the 10-year Treasury yield, which has soared to seven-year highs in recent days, was backing off those levels this morning. (CNBC)

* Wall Street losses rip through global markets (CNBC)
* 80% of technology stocks are already in a correction (CNBC)
* Cramer: 4 things need to happen for stocks to recover (CNBC)

President Donald Trump continued his tirade against the Fed last night, laying into the central bank's policy decisions and suggesting it was to blame for Wednesday's sharp market decline. Trump also said the Fed "is going loco." (CNBC)

Cryptocurrencies plunged today with nearly $13 billion of value being wiped out in a matter of hours. The IMF warned that cryptocurrencies "could create new vulnerabilities in the international financial system." (CNBC)

Investors get two economic reports at 8:30 a.m. ET: weekly initial jobless claims and September consumer price index. However, those data may only be a momentary distraction from the broad market sell-off. (CNBC)

IN THE NEWS TODAY

The third-most powerful storm ever to strike the U.S. mainland headed northeast to soak Georgia and the Carolinas today. Hurricane Michael, now a Category 1, left the Florida Panhandle to assess the devastation left behind. (Reuters)

* How Hurricane Michael got so strong, so quickly (Axios)

President Donald Trump may make a trip to the Hurricane Michael storm zone "Sunday or Monday." Trump received a briefing yesterday on the storm as the then-Category 4 hurricane neared landfall on the Florida Panhandle. (CNBC)

Kanye West is set for lunch with the president today at the White House. He'll meet with Trump's son-in-law and advisor Jared Kushner. The White House said they'll discuss manufacturing, prison reform, and gang violence. (USA Today)

South Korea today walked back on a proposal to lift some of its unilateral sanctions against North Korea. That followed President Trump's blunt retort that Seoul could "do nothing" without Washington's approval. (AP)

Trump is reluctant to cut off arms sales to Saudi Arabia if the kingdom is found to be responsible for the assumed death of Washington Post columnist Jamal Khashoggi. Such a move could hurt the U.S. economy, he suggested. (Politico)

* US intercepts show Saudi crown prince ordered detention of journalist Khashoggi (Washington Post)

A new Gallup poll shows more Americans continue to disapprove more than approve of last year's sweeping tax overhaul bill signed into law by Trump. Sixty-four percent say they have not seen an increase in their take-home pay. (Axios)

Tesla (TSLA) CEO Elon Musk tweeted, "This is incorrect," in response to a report that Twenty-First Century Fox (FOXA) CEO James Murdoch is the leading candidate to replace Musk as the automaker's chairman. Musk will give up the role as part of a SEC settlement.

* SEC and Tesla support the approval of a settlement (Reuters)

A booster rocket carrying a Soyuz spacecraft with a Russian and American astronaut on board headed for the International Space Station failed mid-air today. The failure forced the crew to make an emergency landing. (Reuters)

Samsung revealed its latest smartphone, the Galaxy A9, featuring the world's first rear camera with four lenses. It includes a main rear camera with 24MP resolution, a telephoto lens with 2x optical zoom, an ultra-wide lens and a depth lens. (CNBC)

Apple (AAPL) is buying part of chip supplier Dialog Semiconductor in a $600 million deal. U.K.-based Dialog has been providing power management chips for Apple since the introduction of the first iPhone in 2007. (Reuters)

Sears Holdings (SHLD) has begun skipping payments to vendors, according to a Reuters report, adding to concerns about its future. That follows reports that the retailer was preparing to file for bankruptcy as soon as this week.

The Department of Justice gave preliminary approval for CVS Health's (CVS) acquisition of insurer giant Aetna (AET) yesterday, cementing a deal that could transform how U.S. consumers access health care. (CNBC)

STOCKS TO WATCH

Square (SQ) CFO Sara Friar is leaving the mobile payments company in December. She will become the chief executive officer at neighborhood social network Nextdoor. Square has begun the process of searching for a successor.

Fluor (FL) said it expected third-quarter revenue of about $4.6 billion, below the $4.95 billion that analysts had estimated for the engineering and construction services company. The company is taking several charges related to one project in Europe and another in China.

Toyota Motor (TM) and SoftBank have struck their first-ever alliance, joining forces to develop self-driving vehicle services.

Livent's (LTHM) initial public offering was priced at $17 per share, below the expected range of $18 to $20. The lithium producer's stock will begin trading today on the New York Stock Exchange.

BlackRock (BLK) will reportedly increase its involvement in alternative investments, putting money into private equity firm Gallatin Point Capital. The Wall Street Journal said BlackRock will invest up to $400 million in client money alongside Gallatin's investments.

WATCH: Five market experts break down how to invest as interest rates spike