Looks like it will be another brutal day on Wallstreet as Stocks, bonds and oil prices continued to fall Monday amid concerns about tighter monetary policy, extending a rout that halted two months of calm summer trading. The Dow Jones Industrial Average dropped 44 points, or 0.3%, to 18041 shortly after the opening bell. The S&P 500 declined 0.2%, and the Nasdaq Composite fell 0.1%. The Stoxx Europe 600 shed 1.6%, while Hong Kong’s Hang Seng Index fell 3.4% in its worst day since February.
Markets in Shanghai, Japan and Australia all closed with losses of about 2%. The selloff in stocks and long-dated government bonds began Friday after comments from Federal Reserve Bank of Boston President Eric Rosengren heightened expectations for an interest rate rise later this year. READ MORE