US stocks closed sharply lower on Monday, with the S&P 500 entering the bear market amid growing fears of high inflation ahead of the Federal Reserve’s two-day policy meeting starting on Tuesday. The Dow Jones Industrial Average
Fell nearly 900 points and closed down 2.8%, while the S&P 500
Decreased by 3.9% and the Nasdaq index
Decreased by 4.7%, according to preliminary data from FactSet. All 11 sectors of the S&P 500 have closed in decline, with investors increasingly worried that a more aggressive spearhead will push the U.S. economy into recession.