US equities extended losses on Monday, with the Dow falling into a bear market, reflecting concerns about global economic growth and the cost of central bank efforts to slow inflation.
The Dow fell 329.60 points, or 1.1%, to 29,260.81, its fifth consecutive losing session. This sent the Dow into its first bear market since the early days of the pandemic, with Wall Street setting a drop of 20% or more from its recent highs.
The S&P 500 fell 38.19 points, or 1%, to 3,655.04, a new low of 2022. The Nasdaq Composite traded between gains and losses, slipping 65.00 points, or 0.6 %, at 10,802.92.
Of the 11 sectors in the S&P 500, only the consumer staples sector was higher, but grew by less than 0.1%. The decline was driven by energy, real estate and utilities stocks.
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