Dismal global growth outlook and discouraging JPMorgan Chase's earnings results dragged down the Financial Select Sector SPDR (XLF) 1.4% yesterday. For a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article The Dow Jones Industrial Average (DJI) declined almost 1.1%, or 186.59 points, to close at 17,427.09. Basu said worries about deflation due to decline in oil prices and stagnant growth in wages in the U.S. will force the Federal Reserve to hike interest rate sooner.