April 07, 2014 - 1:26 PM
NEW YORK, N.Y. - U.S. stocks are sagging at the close, pushing the broader market to its longest losing streak since January.
Declines were led by financial firms and consumer discretionary companies, which provide goods and services that are not must-haves for shoppers. High-growth technology stocks also continued their slump from last week, although the declines weren't as severe.
The Standard & Poor's 500 index fell 20 points, or 1.1 per cent, to close at 1,845 Monday. It was the third straight down day for the index, its longest losing span since late January. The Dow Jones industrial average dropped 166 points, or 1 per cent, to 16,245. The Nasdaq slipped 47 points, or 1.2 per cent, to 4,079.
Fashion accessory company Fossil Group and used car retailer CarMax slid 4 per cent. CarMax reported disappointing results Friday.
News from © The Associated Press, 2014