Stock market slump raises fears of deeper pain

A trader reacts on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 5, 2019.

SAN FRANCISCO: Sharper losses could be in store for Wall Street.

The S&P 500's <.SPX> 3.2 percent slump on Monday in reaction to an escalating U.S.-China trade war has added to fears that a prolonged market correction could already have started.