Wall Street's losses worsen as markets tumble worldwide
May 8, 2022
NEW YORK (AP) — Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year.
The sell-off came as renewed worries about China's economy piled on top of global financial markets already battered by rising interest rates.
The S&P 500 tumbled 3.2%, deepening its losses following five straight down weeks, its longest such streak in more than a decade.
The Dow Jones Industrial Average fell 2% and the Nasdaq pulled back 4.3% as tech-oriented stocks again took the brunt of the selling. Monday's sharp drop leaves the S&P 500, Wall Street's main...