Stocks closed lower on Wall Street after a big jump last week on hopes for interest rate cuts from the Federal Reserve.
The S&P 500 fell 0.4 percent Monday. The Dow Jones Industrial Average gave back 0.8 percent after setting a record on Friday.
Tech stocks did better than the rest of the market, leaving the Nasdaq composite down just 0.2 percent. Health care stocks were broadly lower. Keurig Dr Pepper slumped after saying it will buy Peet’s Coffee owner JDE Peet’s in a deal worth about $18 billion.
On Monday:
The S&P 500 fell 27.59 points, or 0.4 percent, to 6,439.32.
The Dow Jones Industrial Average fell 349.27 points, or 0.8 percent, to 45,282.47.
The Nasdaq composite fell 47.24 points, or 0.2 percent, to 21,449.29.
The Russell 2000 index of smaller companies fell 22.78 points, or 1 percent, to 2,339.17.
For the year:
The S&P 500 is up 557.69 points, or 9.5 percent.
The Dow is up 2,738.25 points, or 6.4 percent.
The Nasdaq is up 2,138.50 points, or 11.1 percent.
The Russell 2000 is up 109.02 points, or 4.9 percent.
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