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   From: fjb@nytimes.com   
      
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   Stocks fell broadly on Wall Street, extending the market’s   
   losses amid worries about inflation and the path ahead for the   
   economy. The S&P 500 shed 2.1% Monday, its biggest drop since   
   mid-June. Some 95% of stocks in the benchmark index lost ground.   
   It finished in the red last week, breaking a four-week winning   
   streak. The Dow Jones Industrial Average and the Nasdaq also   
   fell. Technology companies and retailers had some of the   
   heaviest losses. Signify Health soared after The Wall Street   
   Journal reported that Amazon would bid for the company.   
   Investors are looking ahead to this week’s Federal Reserve   
   conference.   
      
   THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.   
      
   Stocks fell broadly in afternoon trading on Wall Street Monday,   
   extending the market’s losses amid worries about inflation and   
   the path ahead for the economy.   
      
   The S&P 500 fell 2.1% as of 3:07 p.m. Eastern and more than 90%   
   of stocks in the benchmark index posted losses. It finished in   
   the red last week, breaking a four-week winning streak.   
      
   The Dow Jones Industrial Average fell 649 points, or 1.9%, to   
   33,058 and the Nasdaq fell 2.5%.   
      
   Technology companies and retailers had some of the heaviest   
   losses. Microsoft fell 2.9% and Target fell 3%.   
      
   Movie theater operators were volatile following a report that   
   Cineworld is considering filing for Chapter 11 bankruptcy   
   protection. The industry is still struggling to recover from the   
   virus pandemic. AMC Entertainment fell 3.4% in choppy trading.   
   Cinemark fell 4.6%.   
      
   Bright spots in the market included Signify Health, which jumped   
   32.4% after The Wall Street Journal reported that Amazon would   
   bid for the company.   
      
   Smaller company stocks also fell, sending the Russell 2000 index   
   2.2% lower.   
      
   Bond yields gained ground. The yield on the 10-year Treasury,   
   which influences rates on home mortgages and other loans, rose   
   to 3.04% from 2.97% late Friday.   
      
   The broader market’s losses come on the heels of a weeks-long   
   rally. Investors are trying to figure out where the economy goes   
   from here as stubbornly hot inflation hurts businesses and   
   consumers. Record-high inflation also has investors focusing on   
   central banks and their efforts to fight high prices without   
   further damaging economic growth.   
      
   “You’ve had quite a rally and there’s reason to not be sure   
   where we’re going from here,” said Tom Martin, senior portfolio   
   manager with Globalt Investments. “There’s still decent   
   potential for a recession.”   
      
   Minutes last week from the Federal Reserve’s July board meeting   
   affirmed plans for more rate hikes despite signs of weaker   
   economic activity. Traders worry aggressive steps to slow the   
   economy might go too far and bring on a recession. The U.S.   
   economy has already contracted through the first half of 2022   
   and Wall Street will get more information on Thursday when the   
   government releases an updated report on the U.S. economy for   
   the second quarter.   
      
   Investors are also looking ahead to this week’s Federal Reserve   
   conference for signals about more possible U.S. rate hikes to   
   cool surging inflation. The central bank holds its annual   
   meeting in Jackson Hole, Wyoming on Thursday. Fed Chair Jerome   
   Powell is scheduled to give a speech on Friday morning.   
      
   The Fed is holding its meeting following a heavy week of company   
   and economic data that showed inflation is still squeezing the   
   economy, but consumer spending remains resilient. Falling   
   gasoline and food commodity prices, for wheat and corn, have   
   helped relieve some of that pressure. That helped essentially   
   stall inflation’s advance in July, though prices still remain   
   stubbornly high.   
      
   “I don’t think we’re out of the woods yet on inflation,” Martin   
   said. “We still don’t really know how inflation is going to pan   
   out and what the Fed is going to do.”   
      
   https://apnews.com/article/inflation-stock-markets-asia-tokyo-   
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