Stocks record worst monthly decline in 30 months

Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020. The S&P 500 fell 1.5% Friday and is at its lowest level in almost two years.

The benchmark index has lost ground for six of the last seven weeks and posted its third straight losing quarter. The Dow Jones Industrial Average lost 1.7% and the Nasdaq fell 1.5%.

The main reason for this year's struggles for financial markets has been fear about a possible recession, as interest rates soar in hopes of beating down the high inflation that's swept the world.