Equities south of the border closed sharply lower on Monday, with financials and health care lagging, as market watchers kept a close eye on a key meeting of ministers of the Organization of the Petroleum Exporting Countries (OPEC) and looked ahead to a U.S. presidential debate.
The Dow Jones Industrials weakened 166.62 points to 18,094.83, with JPMorgan Chase leading decliners and Procter & Gamble the top advancer.
The S&P 500 faded 18.59 points to 2,146.10, with financials leading 10 sectors lower and real estate the only riser.
The NASDAQ Composite backtracked 48.26 points to 5,257.49
In corporate news, Carnival, Cal-Maine Foods and Vail Resorts all reported quarterly results before the bell.
Investors also monitored shares of Deutsche Bank, which hit an all-time low after German Chancellor Angela Merkel had reportedly ruled out helping the bank with its U.S. legal troubles. Deutsche's stock closed 7% lower.
While the White House race has so far had little discernible effect on the market, that may soon change as polls show a tightening race ahead of the first debate between Hillary Clinton and Donald Trump.
Polls gauging the gap in support between the two have narrowed considerably in recent weeks.
According to an NBC News/Wall Street Journal poll released last week, Clinton held a six-point lead over Trump heading into the debate. A Bloomberg poll released Monday showed both candidates were deadlocked.
In economic news, new home sales totaled 609,000.
Investors were also focusing on an OPEC meeting taking place in Algiers. Crude oil prices gained on Monday, after media reports cited the Algerian energy minister saying all options were possible for an output cut or freeze.
Prices for the 10-year Treasury gained, lowering yields to 1.58% from Friday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.18 to $45.66 U.S. a barrel
Gold prices dipped lower $1.20 at $1,340.50 U.S. an ounce.
