Stocks sink to new low for 2022, closing dismal month with mounting recession fears

Wall Street is at its worst levels in almost two years Friday as the end nears for what's been a miserable month for markets around the world.

The S&P 500 closed down 1.5%, at 3,585, after flipping between small losses and gains through the morning. It's at its lowest level since the early 2020 coronavirus crash and its third straight losing quarter.

The Dow Jones Industrial Average closed down 500 points, or 1.7%, and the Nasdaq composite was down 1.5%.