Dow drops almost 900 points as U.S. stocks close sharply lower, S&P 500 ends in bear market

40901 dow drops almost 900 points as us stocks close sharply lower sp 500 ends in bear market

U.S. stocks closed sharply lower Monday, with the S&P 500 entering a bear market, amid heightened fears over high inflation ahead of the Federal Reserve’s two-day policy meeting that kicks off Tuesday. The Dow Jones Industrial Average DJIA, -2.79% tumbled almost 900 points to close 2.8% lower, while the S&P 500 SPX, -3.88% dropped 3.9% and the Nasdaq Composite COMP, -4.68% plunged 4.7%, according to preliminary FactSet data. All 11 sectors of the S&P 500 closed lower, with investors increasingly concerned that a more aggressive Fed will push the U.S. economy into a recession.

Source: Marketwatch

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