Stocks have their worst day in two months
NEW YORK (AP) — The stock market is down the most in two months, continuing a weak start to the year.
The energy sector slumped as the price of crude oil declined.
Traders were also worried about more cuts in the Federal Reserve’s stimulus program following remarks from policymaker at the central bank.
The Dow Jones industrial average lost 179 points, or 1.1 percent, to close at 16,257 Monday.
The Standard & Poor’s 500 index fell 23 points, or 1.3 percent, to 1,819. The Nasdaq composite fell 61 points, or 1.5 percent, to 4,113.
Stocks are getting off to a poor start this year. The Dow is down 2 percent and has risen only twice in 2014.
Consumer discretionary and energy stocks fell the most in the S&P 500 index.
Bond prices rose.