Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022.
Andrew Kelly | Reuters
Stocks fell Monday as recession fears mounted and investors worried time is running out for a year-end rally.
The Dow Jones Industrial Average shed 265 points, or 0.81%. The S&P 500 fell 1.15%, and the Nasdaq Composite shed 1.66%, weighed down by shares of Amazon, which slipped 3%.
The moves followed another down week for stocks after the Federal Reserve delivered a 50 basis point short-term interest rate hike and signaled higher-for-longer rates. Fears that the central bank will push the U.S. economy into a recession increased as the group upped its forecast for future hikes above previous expectations, saying that it now expects to increase rates to 5.1%.
“As we near the end of December, investors are still waiting on that Santa Claus Rally, with…
