Wall Street was hit by a massive decline in sales by Reuters

ছবি Reuters file photo: New York City, New York, USA A man wearing a mask walks the New York Stock Exchange (NYSE) during an outbreak of coronavirus disease (Covid-1) in New York City. Router / Andrew Kelly

(Correct that Treasury prices have risen in paragraph 5)

By Caroline Valtkevich

NEW YORK (Reuters) – Wall Street sank Monday on fears of infection due to the possible collapse of China’s Evergrand and spoke of widespread security and fled equities to protect investors.

Nasdaq fell to its lowest level in about a month, and Microsoft Corporation (NASDAQ :), Alphabet (NASDAQ 🙂 Inc, Inc (NASDAQ :), Apple Inc (NASDAQ :), Facebook Inc. (NASDAQ 🙂 and Tesla (NASDAQ 🙂 Inc were among the biggest drag on the index.

All 11 major S&P 500 sectors were lower, with economically vulnerable groups the lowest in energy.

Investors were also nervous ahead of the Federal Reserve’s policy meeting this week.

The banking sub-index fell sharply while U.S. Treasury prices rose as concerns about Evergrand’s possible default weighed on broader markets.

“You knew that when there was something that kept the market afloat, it would probably lead to bigger sales and you don’t know what would cause it,” said Samir Samana, a senior market strategist at Global Markets. A. Wells Fargo (NYSE 🙂 Investment Institute.

“I think it’s Chinese news but … it’s not surprising how fast people were.”

Wednesday will bring the results of the Fed’s policy meeting, where the central bank is expected to lay the groundwork for a taper, although the announcement will be delayed until the November or December meeting for the actual announcement.

Officially, the S&P 500 lost 620.22 points, or 1.79%, to 33,964.66, losing 75.28 points, or 1.70%, to 4,357.71 and 325.95 points, or 2.17%, to 14,718.02.

The S&P 500 dropped sharply from its September 2 high-day record high hit and is on track to continue its seven-month winning streak.

A strategist Morgan Stanley (NYSE 🙂 said they expected a 10% revision to the S&P 500 as the Fed began to open its financial support, adding that signs of stagnation in economic growth could deepen it by up to 20%.

The CBOE’s volatility index, known as the Wall Street Fear Gauge, has risen.

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