With the rally that sent Wall Street to new highs taking a break, stocks were little lower on Monday to begin a shorter trading week.
A 0.3% decrease, or 127 points, was seen in the Dow Jones Industrial Average. Both the Nasdaq Composite and the S&P 500 saw 0.1% declines.
After The Financial Times revealed that new Chinese regulations would prohibit the use of Intel chips in government servers and computers, Intel’s stock fell 3%, leading the market lower. Following a string of safety mishaps, the Federal Aviation Administration indicated it will be increasing its monitoring of United Airlines, which caused the airline’s shares to drop by 6%.
The main U.S. stock benchmarks crossed new all-time closing high levels last month, putting the market on course for its sixth consecutive month of gains past week. While the Dow had its best week since December, gaining just under 2% and closing in on the 40,000 milestone, the S&P 500 increased by almost 2.3% last week. In contrast, throughout that time the Nasdaq Composite increased by almost 2.9%.
Source (CNBC)
