Dow Jones declines over 500 points

US stock indices fell on Monday, carrying  out the hefty losses sustained last week.

Wall Street is under constant concerns about inflation and estimates about rapid policy tightening by the Federal Reserve this year.

The Fed already decided to hike interest rates by 50 basis points last week to just under 1% to control the runaway inflation, which hit four-decade highs.

Dow Jones declined 1.6% as of 14:15 GMT to 32,398, while S&P 500 shed 2.2% to 4,030, while NASDAQ tumbled 3.1%  to 11,764.