Stocks closed lower on Wall Street, breaking a nine-day winning streak. Crude prices fell to a four-year low Monday after the OPEC+ group of oil-producing nations said it plans to increase output.
The S&P 500 slid 0.6%. The Dow Jones Industrial Average fell 0.2%. Drops in Big Tech stocks like Apple helped pull the Nasdaq composite down 0.7%.
Berkshire Hathaway slumped after legendary investor Warren Buffett announced over the weekend that he would step down as CEO by the end of the year after six decades at the helm.
On Monday:
The S&P 500 fell 36.29 points, or 0.6%, to 5,650.38.
The Dow Jones Industrial Average fell 98.60 points, or 0.2%, to 41,218.83.
The Nasdaq composite fell 133.49 points, or 0.7%, to 17,844.24.
The Russell 2000 index of smaller companies fell 16.48 points, or 0.8%, to 2,004.26.
For the year:
The S&P 500 is down 231.25 points, or 3.9%.
The Dow is down 1,325.39 points, or 3.1%.
The Nasdaq is down 1,466.55 or 7.6%.
The Russell 2000 is down 225.90 points, or 10.1%.
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