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Stocks extend declines amid rising geo-political tensions in Europe, the prospect of Fed rate hikes and slowing corporate earnings.Reports say Biden is mulling troop deployment near the Ukraine border while ordering the families of diplomats in Kyiv to leave “due to the continued threat of Russian military action” in the region.S&P 500 slides into correction territory after falling more than 10% from its record closing high of 4,796.56 points on January 3.Nasdaq hits 8-month low of 13,311.32 as tech stock losses continue to outpace the broader market.VIX volatility gauge extends surge, rising to the highest in nearly a year ahead of a key meek for corporate earnings and an important statement  Wednesday from the Federal Reserve.Kohl’s shares surge amid reports of competing private equity bids for the struggling department store retailer.Peloton shares active as activists press for the ‘immediate’ firing of CEO John Foley.Bitcoin extends slide, falling to a fresh six-month low, as leveraged buyers dump crypto amid increased market volatility.Updated at 10:40 am EST

U.S. stocks slumped lower Monday, following on from a sell-off in major markets around the world, as investors looked ahead to a crucial week of headline risk including a key Fed meeting, scores of bluechip earnings and accelerating geopolitical tensions between Washington and Moscow.

European and Asia stocks suffered heavy losses Monday, with traders reluctant to snap-up beaten down tech stocks ahead of Wednesday’s Fed meeting — where is it expected to first of at least three rate hikes before the end of the year — and the busy slate of corporate earnings starting after the bell today with a December quarter update from International Business Machines  (IBM) – Get International Business Machines Corporation Report.

Collective S&P 500 profits for the three months ending in December are forecast to grow 23.7% from last year to $436.4 billion, according to Refinitiv data, with the energy and materials sector leading the gains.

Wall Street Week Ahead: Can Apple, Tesla and Microsoft Throw Stocks An Earnings Lifeline?Apple  (AAPL) – Get Apple Inc. Report, Microsoft  (MSFT) – Get Microsoft Corporation Report, Tesla  (TSLA) – Get Tesla Inc Report, IBM, General Electric  (GE) – Get General Electric Company Report, Boeing  (BA) – Get Boeing Company Report, AT&T  (T) – Get AT&T Inc. Report, Exxon  (XOM) – Get Exxon Mobil Corporation Report, Chevron  (CVX) – Get Chevron Corporation Report and Caterpillar  (CAT) – Get Caterpillar Inc. Report are but a few of the 104 companies slated to report this week, with investors looking for near-term projections on demand, supply chains and input costs as they assess the potential for generating above-target profits for the current quarter – when earnings growth is expected to slow to around 7%.

The simmering tensions between the Russia and the Ukraine, where troops are reportedly amassing on the former Soviet satellite’s border, is also having an effect on sentiment, particularly now that President Joe Biden is thought to be mulling intervention options as he orders family members of diplomats in Kyiv to leave “due to the continued threat of Russian military action” in the region.

Furthermore, with Goldman Sachs forecasting at least four rate hikes this year, the CME Group’s FedWatch tool is pricing in a small chance of a Wednesday move by Chairman Jerome Powell, but sees the near-certainty of a 25 basis point increase on March 16. 

TheStreet RecommendsMARKETSFFord Stock Extends Slump After Halting New Maverick Hybrid Pickup Orders4 minutes agoHEALTHCovid Omicron Strains Food Supply as Workers Are Sickened34 minutes agoINVESTINGBRK.BARKKTSLABuffett and Wood Produce Similar Two-Year Returns51 minutes agoU.S. stocks, which looked to claw back a small portion of last week’s losses — the worst since the 2020 pandemic — in early pre-market trading are extending sharp declines as market volatility gauges, including the VIX  (undefined)  rise to the highest levels in nearly a year 

Stocks Slide, Kohl’s, Peloton, Earnings and Bitcoin – Five Things You Must KnowThe Dow Jones Industrial Average was marked 515 points lower in mid-morning trading while the S&P 500 slumped 85 points to take the broadest measure of U.S. stocks to within a whisker of correction territory, defined as a 10% decline from its recent peak. 

The tech-focused Nasdaq Composite fell 310 points at the start of trading even as benchmark 10-year Treasury note yields eased to 1.717% in early New York dealing.

Bitcoin prices extended declines following another wild weekend for cryptocurrency traders that included reliability issues at a key blockchain network and further selling for the world’s biggest digital coin.

Bitcoin prices were last seen trading 4.5% lower on the Monday session at $33,621.00 each on the CoinDesk exchange. 

Kohl’s  (KSS) – Get Kohl’s Corporation Report shares were an early notable mover, soaring more than 31% as rival private equity and activist investors line-up competing takeover bids for the struggling department store retailer.

Peloton Interactive  (PTON) – Get Peloton Interactive, Inc. Class A Report shares were also active, and extending gains from Friday, after activist investors at Blackwells Capital LLC reportedly called for the firing of CEO John Foley, and the potential sale of the fitness equipment maker, following last week’s multi-billion sell-off.

In overseas markets, a weaker-than-expected reading for economic activity this month, as well as the lingering hangover from U.S. stocks on Friday and the escalating tensions between Russia and the Ukraine has stocks on the back foot Monday, with the region-wide Stoxx 500 down 2.05% in mid-day Frankfurt trading.

Overnight in Asia, the MSCI ex-Japan benchmark was marked 1.2% lower heading into the final hours of trading while the Nikkei 225 in Tokyo clawed its way to a modest 0.24% gain to close at 27,588.27 points.