NEW YORK: Wall Street stocks fell early Monday on ongoing worries over shifting Federal Reserve policy as investors await key inflation data and corporate earnings later in the week.

Analysts pointed to lingering unease after stocks dropped last week following signals from the Federal Reserve of an accelerated effort to tighten monetary policy.

The yield on the 10-year US Treasury note -- a proxy for Fed interest rates -- moved higher towards two percent.

This week's economic calendar includes reports on consumer pricing and retail sales, as well as earnings from JPMorgan Chase and other banks.

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About 15 minutes into trading, the Dow Jones Industrial Average was down 0.6 percent at 30,015.16.

The broad-based S&P 500 shed 1.1 percent to 4,626.99, while the tech-rich Nasdaq Composite Index dropped 1.7 percent to 14,676.53.

Zynga jumped 46.3 percent after it reached an agreement to be acquired by Take-Two Interactive for $12.7 billion. Take-Two fell 12.8 percent.