Wall Street stocks sank in opening trading Monday in anticipation of more Federal Reserve monetary tightening this week in response to runaway inflation.

About five minutes into trading, the Dow Jones Industrial Average was down 1.8 percent at 30,825.90.

The broad-based S&P 500 fell 2.3 percent to 3,812.55, while the tech-rich Nasdaq Composite Index dropped 2.5 percent to 11,055.44.