U. S. stocks fell sharply in early trading Monday, extending losses for the market after its worst week in more than seven years.
By ALEX VEIGA
U. S. stocks fell sharply in early trading Monday, extending losses for the market after its worst week in more than seven years.
Technology companies, health care stocks and banks took some of the heaviest losses in the broad sell-off, which followed news that the U. S. Treasury Secretary called the CEOs of six major banks Sunday in an apparent attempt to stabilize jittery markets.
Trading volume was light during a shortened trading session ahead of the Christmas holiday Tuesday.
The S&P 500 index fell 48 points, or 2 percent, to 2,368 as of 10:09 a.m. Eastern Time. The Dow Jones Industrial Average lost 444 points, or 2 percent, to 22,000. The Nasdaq skidded 110 points, or 1.7 percent, to 6,222. The Russell 2000 index of smaller-company stocks gave up 14 points, or 1.1 percent, 1,277.
The major indexes are down 16 to 26 percent from their autumn highs. Barring huge gains during the upcoming holiday period, this will be the worst December for stocks since 1931.
