(CNBC) — The Dow Jones Industrial Average fell sharply Monday, in its worst day since June, as the summer rally fizzled out and fears of aggressive interest rate hikes returned to Wall Street.
The Dow fell 641 points, or 1.9%. The S&P 500 and Nasdaq Composite dropped 2.13% and 2.55%, respectively. It was the worst day of trading since June 16 for the Dow and the S&P 500.
Those losses come on the back of a losing week, that snapped a four-week winning streak for the S&P 500. Still, the broader market index remains 13% above its June lows.
