What had been a steady pullback from the US stock market accelerated sharply Monday as investors retreated from virtually every type of risk and economic fear raced across Wall Street.

Tech stocks tumbled by the most since 2022, sending the Nasdaq 100 Index diving nearly 4%. Crypto prices slid. Corporate bond sales were scrapped. Wall Street’s fear gauge and a key measure of credit risk surged. And Treasuries rallied, pulling yields down steeply, as they took on the role as haven of last resort.