NEW YORK (AP) — Stocks fell on Wall Street Monday as markets tumbled worldwide on worries about the pandemic’s economic pain.

The S&P 500 sank 1.2%, though a last-hour recovery helped it more than halve its loss from earlier in the day.

European stocks slid earlier on the possibility of tougher restrictions to stem rising coronavirus counts.

Bank stocks fell after a report alleged several are profiting from illicit dealings with criminal networks.

Wall Street has struggled this month amid fears that stocks are expensive with the pandemic still worsening and Congress not delivering more economic aid.

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