Stocks on Wall Street dipped on Monday, with the S&P 500, the benchmark U.S. index, losing 1.3 percent and the Nasdaq composite dropping 2.1 percent. Apple, Amazon, Google and Microsoft all closed more than 2 percent lower, while Facebook was off 4.9 percent. The biggest tech companies have enormous sway on the S&P 500 and Nasdaq. The S&P 500 has fallen 5.2 percent since its Sept. 2 record, as investors have weighed concerns about continuing disruptions to the economy and supply chains by the Delta variant and the effects of political brinkmanship on the economy. They have also been eyeing plans by the Federal Reserve to start cutting back — or tapering — the $120 billion in bonds it has been buying each month during the pandemic. "The rally we've had in the stock market has been in the back of supportive policy from the government and central banks," said Fiona Cincotta, senior financial markets analyst at Forex.com. "When you move toward tapering, you're moving toward higher interest rates, and that's not as beneficial for businesses as that easy money we've had in the past year and a half." Oil prices rose on Monday, with West Texas Intermediate, the U.S…. Read full this story
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