Stocks slide, S&P 500 down more than 10% from recent high
By DAMIAN J. TROISE
AP Business Writer
NEW YORK (AP) — Stocks sank in morning trading on Wall Street Monday, putting the benchmark S&P 500 on track for what the market considers a correction _ a drop of 10% or more from its most recent high. The S&P 500 fell 2.5% to 4,287.22 as of 10:15 a.m. Eastern, and is now down about 10.7% from the high it set on Jan. 4. The Dow fell 2.1% and the tech-heavy Nasdaq dropped 3%. Investors have been growing increasingly worried about how aggressively the Federal Reserve, which holds a policy meeting this week, might act to cool rising inflation.
