Wall Street stocks fall in afternoon trading

Despite worries about inflation and the economy's future, Wall Street stocks fell broadly in afternoon trading Monday.

Approximately 90% of stocks in the benchmark index fell with the S&P 500 falling 2% by 1:39 p.m. Eastern. After four weeks of winning, it finished in the red last week.

A report that Cineworld is considering Chapter 11 bankruptcy protection triggered volatility among theater operators. There has been no recovery from the virus pandemic in the industry. Following a plunge earlier in trading, AMC Entertainment rose 1.3%. 3.3% of Cinemark's stock fell.

The biggest losses were suffered by technology companies and retailers. Target fell 3.1% and Microsoft fell 2.8%.

After The Wall Street Journal reported that Amazon was interested in buying Signify Health, the stock rose 32.2%.

22 August 2022