NEW YORK — Concerns over the economic impact of the earthquake and tsunami in Japan, the world’s third-largest economy, led to a broad sell-off in the stock market on Monday.

Nine out of the 10 sectors that make up the Standard and Poor’s 500 index lost ground. Utilities companies fell 1.4 percent, the most of any group, as explosions at Japanese nuclear reactors in the wake of the disaster dimmed prospects for the nuclear energy industry.

“Everything is linked now,” said David Katz, senior portfolio strategist at Weiser Capital Management. “There is no such thing as a catastrophe happening in any major country and it not affecting the global economy.”

Japan’s central bank pumped a record $184 billion into money market accounts to encourage bank lending. Financial analysts said the move could put pressure on Japan to raise interest rates, particularly since the country is saddled with massive debt that is the biggest among developed nations.

“The fiscal position is deteriorating in Japan,” said Channing Smith, managing director of equity strategies at Capital Advisors Inc. “If we get higher interest rates, that is a major threat to … the global recovery.”

Japan’s benchmark Nikkei 225 index fell 633.94 points, or 6.2 percent, to close at 9,620.49 — its lowest level in four months. The decline wiped out this year’s gains.

The disasters in Japan took some steam out of the rally in oil prices by reducing the country’s oil imports. That won’t last long.

Analysts said Monday that once Japan begins to rebuild, it will boost imports of refined fuels. And it will need more than before to compensate for the loss of some of its nuclear power.

“Demand for petroleum products is going to soar,” said analyst and trader Stephen Schork.