Wall Street is back to falling on Monday, ahead of a busy week with updates scheduled for how bad inflation is and how corporate profits are handling it.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq all closed lower. Wynn Resorts and Las Vegas Sands slumped after COVID infections forced the shutdown of casinos in Macao. Twitter fell even more after billionaire Elon Musk said he wants out of his deal to buy the social media platform. In the bond market, a warning signal of recession continued to flash.
The S&P 500 fell 44.95 points, or 1.2%, to 3,854.43.
The Dow Jones Industrial Average fell 164.31 points, or 0.5%, to 31,173.84.
The Nasdaq fell 262.71 points, or 2.3%, to 11,372.60.
The Russell 2000 index of smaller companies fell 37.36 points, or 2.1%, to 1,732.01.
For the year:
The S&P 500 is down 911.75 points, or 19.1%.
The Dow is down 5,164.46 points, or 14.2%.
The Nasdaq is down 4,272.37 points, or 27.3%.
The Russell 2000 is down 513.30 points, or 22.9%.