US stocks close at their lowest levels since June

Wall Street fell amid widespread selling today, as investors’ appetite for risk receded due to fears that the monetary tightening policy of the Federal Reserve (central bank) would continue for a longer period than expected.

According to Reuters, the three major US stock indices fell by more than 1%

The Dow Jones Industrial Average fell 370.46 points, or 1.08 percent, to 34,070.42 points. The Standard & Poor’s 500 index fell by 72.2 points, or 1.64 percent, to 4,330 points. The Nasdaq Composite Index fell 245.14 points, or 1.82 percent, to 13,223.99 points.