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The Dow Jones Industrial Average fell more than 500 points Monday as stocks were down across the board amid concerns over rising interest rates.

At the end of trading Monday, the Dow was down 507.53 points, or 2.11 percent, while the S&P 500 dropped fell 2.08 percent and the Nasdaq Composite dropped 2.27 percent, as all 30 stocks in the Dow and all 11 sectors in the S&P 500 were down, CNBC reported.

Monday’s losses brought the S&P 500 to its lowest close for the year at 2,545.94 points. Both the S&P 500 and the Dow are on pace for their worst December performances since the Great Depression, dripping more than 7 percent this month.

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