Stocks fell broadly on Wall Street as protests spread in China calling for President Xi Jinping to step down amid growing anger over severe restrictions imposed as part of his “zero COVID” strategy in the world’s second-largest economy.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. Small-company stocks fell more than the rest of the market. Technology companies were the biggest weights on the broader market.
Markets will get another key piece of data on the economy later this week when the Labor Department issues its monthly jobs report.
The S&P 500 fell 62.18 points, or less than 1.5%, to 3,963.94.
The Dow Jones Industrial Average fell 497.57 points, or 1.4%, to 33,849.46.
The Nasdaq fell 176.86 points, or 1.6%, to 11,049.50.
The Russell 2000 index of smaller companies fell 38.23 points, or 2%, to 1,830.96.
For the year:
The S&P 500 is down 802.24 points, or 16.8%.
The Dow is down 2,488.84 points, or 6.8%.
The Nasdaq is down 4,595.47 points, or 29.4%.
The Russell 2000 is down 414.35 points, or 18.5%.