Wall Street was deep in the red again Monday as investors feared the Federal Reserve's plans to hike interest rates would eat into corporate profits. The tensions in Ukraine, earnings season and — of course — inflation weren't helping, either.
The Dow Jones Industrial Average fell 1,000 points, or 3%, at midday.
The S&P 500, the broadest measure of the US equity market, was trading 3.7% lower at midday. Last week, the index logged its worst week since March 2020.
The Nasdaq Composite was the biggest loser of the morning, trading down 4.5%.
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