Stocks closed broadly lower on Wall Street Monday, pulling major indexes below the latest record highs they reached last week.
The S&P 500 fell 0.5% and the tech-heavy Nasdaq lost 1%. Small-company stocks did worse than the rest of the market. Technology stocks had some of the biggest pullbacks, but the losses were shared broadly by a mix of banks, energy companies and others that depend on spending by consumers.
Investors are turning their focus to company earnings reports, and looking to see if the upbeat forecasts for strong results hold true.
The S&P 500 fell 22.21 points, or 0.5%, to 4,163.26.
The Dow Jones Industrial Average fell 123.04 points, or 0.4%, to 34,077.63.
The Nasdaq fell 137.58 points, or 1%, to 13,914.77.
The Russell 2000 index of smaller companies fell 30.67 points, or 1.4% to 2,232.
For the year:
The S&P 500 is up 407.19 points, or 10.8%.
The Dow is up 3,471.15 points, or 11.3%.
The Nasdaq is up 1,026.48 points, or 8%.
The Russell 2000 is up 257.15 points, or 13%.
Featured Article: Return on Investment (ROI) Defined, Explained7 Undervalued Stocks That Deserve More Attention
With the Dow Jones Industrial Average (DJIA) hitting new highs seemingly every day, it may seem like the wrong time to be looking at undervalued stocks. Or is it?
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