Stocks Close at 14-Month Low in Broad Sell-Off: Markets Wrap
- Fed decision looms large; Obamacare ruling whacks insurers
- Dollar slips; Texas crude settles below $50; Treasuries gain
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U.S. equity indexes slid to their lowest close in 14 months as investors weighed the impact of the Federal Reserve on growth in an economy already anxious over trade, geopolitical tensions and a possible government shutdown.
The S&P 500 Index finished Monday’s session at its lowest level since October 2017. The technology, health-care and consumer sectors led the rout, but no segment of the benchmark went unscathed. Insurance stocks plunged after a court ruling jeopardized Obamacare, while Johnson & Johnson sank on fresh worries its asbestos scandal will intensify.