NEW YORK, Aug 18 — US stocks extended recent losses in early trading today on continued concerns about the length of time interest rates will need to remain high to tame above-target inflation.
Investors also responded to the news that the embattled Chinese construction giant Evergrande filed for bankruptcy in the United States amid growing concerns about the country's real estate sector.The broad-based S&P 500 fell 0.6 per cent as well to 4,345.42, while the tech-rich Nasdaq Composite Index dropped 0.9 per cent to 13,208.78.
"The Dow is on pace for its worst week since March," Art Hogan from B. Riley Wealth Management wrote in a note to clients before the markets opened.
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