STORY STOCKS

Stocks on Wall Street closed sharply lower Monday, mirroring losses overseas and handing the S&P 500 index its biggest drop in four months. Worries about heavily indebted Chinese property developers — and the damage they could do to investors worldwide if they default — rippled across markets. Investors are also concerned that the U.S. Federal Reserve could signal this week that it’s planning to pull back some support for the markets and economy.