Stocks closed lower on Wall Street as investors brace for higher interest rates from central banks to fight inflation.
The S&P 500 lost 0.9% Monday, the tech-heavy Nasdaq composite lost 1.5% and the Dow Jones Industrial Average fell 0.5%.
Major indexes are coming off two weeks of losses. Facebook's parent company sànk after the European Union accused the company of breaching antitrust rules by distorting competition in online classified ads. Treasury yields moved higher and crude oil prices rose.
Investors are awaiting several key economic reports this week on the housing market and consumer spending.
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