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Dow tumbles over 500 points on growth worries; focus turns to Fed

Energy, bank stocks lead market declines

Dow Jones
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Reuters
Wall Street's main indexes tumbled on Monday, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.

Ten of the 11 major S&P sectors declined in early trading.
Economy-sensitive industrials, financials and energy dropped between 1.6% and 3.2%.

The banking sub-index shed 2.9%, tracking U.S. Treasury yields as investors flocked to the safety of bonds on worries about the default of Chinese property developer Evergrande.

Heavyweight technology-related stocks Microsoft Corp , Google-owner Alphabet Inc, Amazon.com Inc , Apple Inc and

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)