Dow Drops 1,000 Points to Lowest Level in 10 Months
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Summary
The Russell 2000 index of smaller companies, whose fortunes are more closely tied to the domestic economy, is now down more than 20% from its recent high.Investors have been growing increasingly worried about how aggressively the Federal Reserve, which holds a policy meeting this week, might act to cool rising inflation. Retailers, food producers and others have been raising prices on goods to try and offset the impact.Rising costs are raising concerns that consumers will start to ease spending because of the persistent pressure on their wallets.Investors are monitoring the latest round of corporate earnings, in part, to gauge how companies are dealing with higher prices and what they plan to do as inflation continues pressuring operations.Monday is a relatively quiet day for earnings, but the pace picks up on Tuesday with American Express, Johnson & Johnson, and Microsoft reporting results.
As said here by Associated Press