US stocks slid on Monday as higher US Treasury yields hit growth stocks amid prospects of aggressive monetary policy tightening, with investor sentiment taking a hit from fears of a sharp economic slowdown in China. All of the 11 major S&P sectors fell in early trading.
The energy sector tumbled 3.4 per cent as oil prices fell more than 2 per cent, sparked by weak China data and a tighter Covid-19 lockdown inThe tech-heavy Nasdaq dropped 3.4 per cent, while the benchmark S&P 500 index hit its lowest level in a year as megacap stocks
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