Stocks slip as worries about high rates weigh on Wall Street

By STAN CHOE and DAMIAN J. TROISE
AP Business Writers

NEW YORK (AP) — Stocks slipped again on Wall Street. The S&P 500 fell 0.6% Monday, its second straight fall after a stunningly strong report on the jobs market dented the market’s hopes that interest rates would ease. The sharpest action was again in the bond market, where expectations are rising for the Federal Reserve to stay firm on keeping interest rates higher for longer to combat inflation. It’s something the Fed has been talking about for a long time, but also something the market has been stubborn about not believing fully. The Nasdaq composite lost 1% and the Dow slipped 0.1%.