Stocks fall sharply on Wall Street amid renewed inflation fears
CBSN
Stocks fell broadly on Wall Street, extending the market's losses amid worries about inflation and the path ahead for the economy.
The S&P 500 shed 2.1% Monday, its biggest drop since mid-June, to close at 4,137. Some 95% of stocks in the benchmark index lost ground. It finished in the red last week, breaking a four-week winning streak.
The Dow Jones Industrial Average lost 1.9%, closing at 33,063, and the Nasdaq also fell by 2.6%. Technology companies and retailers had some of the heaviest losses. Amazon lost 5%; Meta lost 4.9% and Apple lost 3.9%.
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