NEW YORK (AP) — Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year. The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.
Highlights
- The S&P 500 tumbled 3.2%, deepening its losses following five straight down weeks, its longest such streak in more than a decade.
- The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.
- The Dow Jones Industrial Average fell 2% and the Nasdaq pulled back 4.3% as tech-oriented stocks again took the brunt of the selling.
- Wall Street’s pullback followed a worldwide swoon for markets.
- Not only did stocks fall across Europe and much of Asia, but so did everything from old-economy crude oil to new-economY bitcoin.