Stocks closed lower on Wall Street Monday, giving up recent gains after a record-setting run.
The selling snapped a four-day winning streak for the S&P 500. Technology stocks and companies that rely on consumer spending helped pull the market lower, outweighing gains in health care, financial and energy stocks.
Treasury yields continued to rise, reflecting expectations of increased federal borrowing, more stimulus for the economy and the possibility of higher inflation.
On Monday:
The S&P 500 dropped 25.07 points, or 0.7%, to 3,799.61.
The Dow Jones Industrial Average fell 89.28 points, or 0.3%, to 31,008.69.
The Nasdaq composite slid 165.54 points, or 1.3%, to 13,036.43.
The Russell 2000 index of smaller companies gave up 0.65 points, or less than 0.1%, to 2,091.01.
For the year:
The S&P 500 is up 43.54 points, or 1.2%.
The Dow is up 402.21 points, or 1.3%.
The Nasdaq is up 148.15 points, or 1.1%.
The Russell 2000 is up 116.15 points, or 5.9%.
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
