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NEW YORK (AP) — Stocks fell sharply on Monday as investors anticipated inflation-fighting measures from the Federal Reserve and fretted over the possibility of conflict between Russia and Ukraine.
Stocks have fallen steadily so far this year as the Fed has signaled its readiness to begin raising its benchmark short-term interest rate in 2022 to try to tame inflation.
Investors have been growing increasingly worried about how aggressively the Federal Reserve, which holds a policy meeting this week.
Early in the day, benchmark stock indexes flirted with near 4-month lows as investors anticipated guidance from the Fed later this week about its plans to raise interest rates to tame inflation.
The Dow Jones Industrial Average dropped more than 1,000 points Monday as financial markets buckled in anticipation of inflation-fighting measures from the