Stock Market Today – 5/9: Stock Sharply Lower As Growth Worries Accelerate

Updated at 9:34 am EST

U.S. stocks slumped lower again Monday, while the dollar breached a fresh 20-year high and Treasury yields extended their recent gains, as investors sailed into a wall of worry linked to a slowdown in China, surging inflation and an aggressive Federal Reserve in the U.S. and a worrying escalation in Russia’s war on Ukraine in Europe.

With last Friday’s sell-off on Wall Street, which extended the longest weekly losing streak in more than a decade for the S&P 500, bleeding into the Asia session, stocks were already fragile when investors were hit with data showing a sharp slowdown in China exports and a warning from Premier Li Keqiang about the country’s Covid-hit jobless rate.

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