Nasdaq closes at 2-year low after stocks fail to shake off Fed rate-hike gloom

After investors could not get rid of concerns about more Federal Reserve rate hikes and Jamie Dimon of JPMorgan Chase & Co. warned of a probable 20% collapse in the S&P 500

U.S. stocks ended the day lower on Monday, pushing the Nasdaq Composite to its lowest closing in more than two years.

The Dow dropped 93.91 points, or 0.3%, to settle at 29,202.88.

The S&P 500 dropped 27.27 points, or 0.8%, to close at 3,612.39.

Losses that occurred at the conclusion of last week were made worse by Monday's drop.

The Dow sank 630 points, or 2.1%, the S&P 500 dropped 2.8%, and the Nasdaq Composite fell 3.8% on Friday.


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