(CNBC) — Stocks fell Monday on fears that the Federal Reserve may continue tightening until it tips the economy into a recession.
The Dow Jones Industrial Average fell 482.78 points, or 1.4%, to finish at 33,947.10. The S&P 500 slumped 1.79% to settle at 3,998.84. The Nasdaq Composite slid 1.93% to end the session at 11,239.94.
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Tesla shares shed about 6.4% on reports of an output cut at its Shanghai factory, while tech stocks like Amazon and Netflix slid 3.3% and 2.4%, respectively, on growth concerns. Salesforce tumbled nearly 7.4% as it announced the departure of Slack’s CEO.
