Major stocks on Wall Street registered major losses after Friday's session as investors prepared for another week of corporate earnings announcements and economic data releases, with the focus on the second-quarter GDP data and the upcoming speech by Federal Reserve Chair Jerome Powell.
This week was marked by the Fed's highlights from the previous FOMC meeting, as well as the Biden administration's decision to provide more military support to Ukraine worth nearly $800 million.
The Dow Jones plunged 0.86% or 292 points at the closing bell, while the Nasdaq 100 tumbled 1.95% or 263 points and the S&P 500 fell 1.29%. The euro once again neared parity against the greenback by dropping 0.47% at 3:59 pm ET to sell for 1.00405.
