US and European stock markets skidded lower late on Monday after a choppy day of trading, as investors weighed countervailing forces of resurgent economies and central banks’ next steps to fight inflation.
The S&P 500 ended the day down 0.4 per cent, while the tech-heavy Nasdaq Composite fell 0.6 per cent. Both indices lurched lower in the final hour of trading after swinging repeatedly between gains and losses earlier in the day.
The two gauges made gains last week but remain significantly lower for the year, with investors adjusting expectations for the Federal Reserve’s impending end of its pandemic-era monetary support.
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