NYC: Activists push for Financial Transaction Tax
NEW YORK (AP) — Stocks fell on Wall Street and put major indexes deeper into a slump as recession fears grow.
The S&P 500 fell 0.8% in afternoon trading Monday. The Dow Jones Industrial Average and the Nasdaq also fell.
The losses were broad and included banks, health care companies and retailers. The British pound slumped to an all-time low against the dollar and investors continued to dump British government bonds in displeasure over a sweeping tax cut plan announced in London last week.
Treasury yields continued to rise as the Federal Reserve and other global central banks step up their fight against inflation.
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