Fears of a tightening of monetary policy drive Wall Street into decline

Major Wall Street indexes fell on Monday after better-than-expected data on US service sector activity raised fears that the Federal Reserve (the US central bank) would continue its monetary tightening policy for a longer period.
The Dow Jones Industrial Average fell 402.57 points, or 1.17%, to 34027.31 points in the latest trading.

The Standard & Poor’s 500 index fell 59.54 points, or 1.46%, to 4,012.16 points.

The Nasdaq Composite Index also fell 173.21 points, or 1.51%, to 11,288.29 points.