Nigeria, March 19 -- This report is from today's TNC's Daily Open, our international markets update. TNC Daily Open keeps investors informed on everything they need to know, no matter where they are.

Consumer sentiment has fallen to its lowest level since 2022, according to the University of Michigan's Survey of Consumers, which was released on March 14. Investors are feeling just as pessimistic as consumers.

According to the March editions of the CNBC Fed Survey and the Bank of America Global Fund Manager Survey, Wall Street feels similarly gloomy. On Tuesday, the economic forecasting group UCLA Anderson also issued its first-ever "recession watch" warning.

Tuesday's sell-off mirrored the forecasters' and poll participants' depressing...