After a break during the rally that sent Wall Street to new highs, stocks fell on Monday to begin a shorter business week.
It closed at 39,313.64, down 162.26 points, or 0.41%, on the Dow Jones Industrial Average. The Nasdaq Composite closed at 16,384.47, down 0.27%, and the S&P 500 saw a 0.31% decline to close at 5,218.19.
The Financial Times revealed that new Chinese regulations will prevent Intel’s chips from being used in government computers and servers, which caused Intel’s stock to drop 1.7%. Following a spate of safety mishaps, United Airlines saw a 3.4% decline in stock value following the Federal Aviation Administration’s announcement that it would be intensifying its investigation into the airline.
As the main U.S. stock indices surpass new all-time highs, the market is poised to post gains for a fifth straight month last week’s closing high levels. 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)
