(CNBC) — Stocks fell again on Monday, following four straight weeks of declines, as investors grew increasingly concerned higher energy prices stemming from the Russia-Ukraine conflict would slow the economy and raise inflation.
The Dow Jones Industrial Average lost 797.42 points to close at 32,817.38, dragged down by a nearly 8% loss in American Express. The S&P 500 declined close to 3% to 4,201.09, falling deeper into correction territory. The 500-stock average sits more than 12% from its record close. The Nasdaq Composite lost 3.6% to 12,830.96, and now sits in bear market territory, more than 20% from its all-time close.
As the Russia- Ukraine war continues, investors are monitoring the potential economic ramifications of disruptions in the global supply of energy.