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Stocks fell Monday as recession fears mounted and investors worried time is running out for a year-end rally.
The Dow Jones Industrials fell 162.92 points to finish a dismal Monday at 32,757.54
The S&P 500 subsided 34.7 points to 3,817.66.
The NASDAQ Composite Index chucked 159.38 points, or 1.5%, to 10,546.03.
Monday’s close marked the fourth consecutive day of losses for all three averages.
Stocks are set to round out a dismal monthly performance in December after two consecutive negative weeks. So far, the Dow is set to end the month 5.3% lower, and the S&P 500 is down 6.4% in the same timeframe. The NASDAQ Composite is on track to decline 8% this month.
Investors will also be watching for a few earnings reports due later in the week. FedEx and Nike are both scheduled to report earnings results on Tuesday after market close. As recession fears mount, earnings results will become more of a focus.
Builder sentiment dropped two points to 31 in December, according to the National Association of Home Builders survey. The report marked the 12th consecutive monthly decline for the index.
Prices for the 10-year Treasury tumbled, raising yields to 3.59% from Friday’s 3.49%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.48 to $75.77 U.S. a barrel.
Gold prices stumbled $3.90 to $1,796.30 U.S. an ounce.
