The VN-Index hit an 11-year high despite a sharp pullback early in the month. A global slump began in the US then slammed into the Vietnamese market driven by fear that higher than expected inflation, resulting from tax cuts, could force the Fed to step up the pace of its interest rate hikes. Domestic news regarding raising the margin ratio from 50% to 60% also contributed to the bearish momentum, which sent the VN-Index plunging 9.6%.