NEW YORK (AP) — Stocks are falling again Monday on fears that new waves of coronavirus infections could derail the swift economic recovery that Wall Street was sure was on the way.

The S&P 500 was down 1% in midday trading, after earlier being down as much as 2.5%. The recent stumble means U.S. stocks are now 11% below their record set in February, after a furious rally had brought them back within 6% in the middle of last week.

China is reporting a new outbreak, and New York's governor is upset groups of people are packing together outside bars and restaurants without face masks, in violation of restrictions.

Enter your number to get our free mobile app