The S&P 500 fell 1.5% as of 12:01 p.m. Eastern. More than 85% of stocks in the benchmark index fell in the weak opening following a long weekend for the Independence Day holiday. The Dow Jones Industrial Average fell 562 points, or 1.8%, to 30,532 and the Nasdaq fell 0.3%.Energy companies had some of the biggest losses as U.S. oil prices fell 8.1%. Exxon Mobil shed 4%.
Banks also fell significantly, along with bond yields. The yield on the 10-year Treasury, which helps set mortgage rates, fell to 2.79% from 2.90% late Friday. JPMorgan Chase fell 2.3%.last month, meaning an extended decline of 20% or more from a recent peak. The market's performance in the first half of 2022 was the worst since the first six months of 1970.
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