US stocks closed lower Monday, amid concerns that the central bank will continue to raise interest rates again.

Jerome Powell, Chairman of the Federal Reserve Board of Governors, said the rate hike will continue as part of efforts to control price inflation.

The Dow Jones and Standard & Poor's 500 indices ended Monday's trading at lower levels compared to the previous session.

The inflation rate in the United States reached the highest levels in nearly 40 years, while the American economy recorded a contraction for the second consecutive quarter in 2022.

What this data recorded is considered a recession in many countries of the world, but it was not classified as such in the United States, which uses additional data so that it can call this economic situation a "stagnation".

The decline in the first trading session in the New York Stock Exchange this week came as an extension of the collapse in stock trading on Wall Street that began last Friday when Fed Governor Powell stressed, in his speech to the Jackson Hole Economic Forum, which was held last Friday, that the central bank will move “vigorously” from In order to control inflation, though, it could lead to "some pain" for American households and businesses.