How major US stock indexes fared Monday

The Associated Press

Stocks had their biggest drop in more than a year Monday after another big leap for oil prices threatened to squeeze inflation’s grip on the global economy. The S&P 500 sank 3%, its biggest drop in 16 months, after a barrel of U.S. crude surged to nearly $120 on the possibility that Washington could bar imports from Russia. Overseas markets also fell, taking their cue from oil’s movements. The tech-heavy Nasdaq is down 20% from its November peak, putting that index in a bear market. The S&P 500 is down a more modest 12.4% from the all-time high it set in early January,