Dow drops 1,000 points as markets extend slide in 2022

By DAMIAN J. TROISE
AP Business Writer

NEW YORK (AP) — The Dow Jones Industrial Average dropped more than 1,000 points Monday as financial markets buckled in anticipation of inflation-fighting measures from the Federal Reserve and fretted over the possibility of conflict between Russia and Ukraine. Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to close in what the market considers a correction _ a drop of 10% or more from its most recent high. Stocks have fallen sharply so far this year as the market readies for the Fed to raise interest rates to try to tame inflation, which is at its highest level in nearly four decades.