Stocks have moved sharply lower during trading on Monday, extending the sell-off seen in the previous week. With the steep drop on the day, the major averages have fallen to their lowest intraday levels in over a year.
The major averages have seen further downside in recent trading, hitting new lows for the session. The Dow is down 825.74 points or 2.6 percent at 30,567.05, the Nasdaq is down 486.76 points or 4.3 percent at 10,853.26 and the S&P 500 is down 141.62 points or 3.6 percent at 3,759.24.
The extended sell-off on Wall Street reflects lingering concerns about inflation and the outlook for interest rates after last Friday's report showing a jump in consumer prices.
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