Dow drops almost 900 points as U.S. stocks close sharply lower, S&P 500 ends in bear market

U.S. stocks closed sharply lower Monday, with the S&P 500 entering a bear market, amid heightened fears over high inflation ahead of the Federal Reserve’s two-day policy meeting that kicks off Tuesday. The Dow Jones Industrial Average tumbled almost 900 points to close 2.8% lower, while the S&P 500 dropped 3.9% and the Nasdaq Composite plunged 4.7%, according to preliminary FactSet data. All 11 sectors of the S&P 500 closed lower, with investors increasingly concerned that a more aggressive Fed will push the U.S. economy into a recession.

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