The Dow Jones Industrial Average took a step back on Monday as traders paused following a recent rally that pushed the major U.S. stock benchmarks to new record highs.
The 30-stock average declined by 85 points, or 0.2%, while the S&P 500 edged down by 0.1% and the Nasdaq Composite dropped by 0.2%.
Apple shares fell more than 2% after being hit with a nearly $2 billion European Union antitrust fine. The EU’s executive arm accused the tech giant of abusing its dominant position in the music streaming distribution market.
On the positive side, Lyft saw a 5% increase in its shares after RBC upgraded its rating from sector perform to outperform. Super Micro Computer and Deckers Outdoor also experienced gains of more than 25% and 2%, respectively, following the announcement by S&P Dow Jones Indices that they will be added to the S&P 500 later this month.
Source (CNBC)
