US stocks fell on Monday as investors weighed the outlook for interest rate rises following comments from Federal Reserve officials, and news of planned job cuts at Amazon added another name to a list of Big Tech dismissals.
Wall Street’s benchmark S&P 500 lost 0.9 per cent on Monday and the tech-heavy Nasdaq Composite decreased 1.1 per cent, as investors dialled back some of the enthusiasm that was displayed in a rally late last week induced by better than forecast inflation data.
The S&P 500 added 6.4 per cent on Thursday and Friday and the Nasdaq Composite climbed 9.3 per cent, its biggest two-day gain since 2008.
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