Stocks rise, still on pace for worst month since March 2020
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By STAN CHOE and ALEX VEIGA
AP Business Writers
Stocks are rising Monday, trimming some of their worst monthly loss since the early days of the pandemic, as Wall Street closes a tumultuous January wracked by worries that imminent interest-rate hikes will make everything in markets more challenging. The S&P 500 was 2% higher in afternoon trading. But it’s still down 6.5% since setting a record exactly four weeks ago and is on track for a loss of 5.9% this month. That would be its worst since falling 12.5% in March 2020, when it hit bottom after the pandemic suddenly shut down the global economy.