Stocks fall on Wall Street, extending market’s losses

By DAMIAN J. TROISE
AP Business Writer

NEW YORK (AP) — Stocks fell broadly in afternoon trading on Wall Street Monday as worries about rising inflation and interest rate hikes weigh on investors and extend the market’s losses. The S&P 500 fell 0.9% and roughly three out of every four stocks within the index lost ground. The Dow Jones Industrial Average fell 0.7% and the Nasdaq shifted between small gains and losses. Energy companies had the biggest losses as crude oil prices fell 5%. Prices for ultra-safe U.S. government bonds rose as traders shied away from risk. Stocks slumped in China as that country reinforced its stringent pandemic policies.