The S&P 500 rose Monday but remained on track to close out its worst month since March 2020 as expectations for higher interest rates erode enthusiasm for stocks.
The broad U.S. stock index has retreated 5.9% in volatile trading in January as investors wrestle with the question of how tighter monetary policy would influence equity valuations. High inflation and a strong labor market have led Federal Reserve officials to accelerate their plans for unwinding support for the economy.