Stocks drop the most since May on worries over China, Fed
A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, Sept. 20, 2021. Shares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with both Tokyo and Shanghai closed. (AP Photo/Vincent Yu)
U.S. stocks had their biggest drop since May.
There’s concern the Federal Reserve will signal that it will pull back its supports for markets and the economy.
The S&P 500 fell 1.7% Monday. It had been down as much as 2.9% earlier. The Dow fell 614 points to close at 33,970.47.
The yield on the 10-year Treasury note dropped to 1.31% as investors turned to lower-risk assets.
Hong Kong’s main index dropped 3.3%, its biggest loss since July, over worries that the huge Chinese developer Evergrande could collapse.
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