Stocks down as markets tumble worldwide

NEW YORK — Stocks racked up more losses on Wall Street Monday, leaving the S&P 500 at its lowest point in more than a year.

The sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.

The S&P 500 gave up 3.2 percent, adding to its losses following its fifth straight weekly loss, its longest such streak in more than a decade.

The Dow Jones Industrial Average fell 2 percent and the Nasdaq pulled back 4.3 percent as tech-oriented stocks again took the brunt of the sell-off. Monday’s sharp drop leaves the S&P 500, Wall Street’s main measure of health, down 16.8 percent from its record set early this year.

The sell-off on Wall

Street followed a worldwide swoon for markets. Not only did stocks fall across Europe and much of Asia, but so did everything from old-economy crude oil to new-economy bitcoin. Bond yields and the price of gold, also fell.

Among U.S. stocks, the energy sector, a star performer in recent weeks, accounted for some of the sharpest declines as energy prices fell. Marathon Oil and APA Corp. each sank more than 14 percent.

“Basically, investors are finding it very difficult to find a place to hide,” said Sam Stovall, chief investment strategist at CFRA. “The traditional safe havens, such as defensive sectors or such as bonds, are not doing that well. Commodities are not doing well.“

The S&P 500 fell 132.10 to 3,991.24. The Dow dropped 653.67 points to 32,245.70. The Nasdaq slid 521.41 points to 11,623.25.