By Fred Imbert
U.S. stocks closed mostly lower on Monday as investors reassessed the
prospects of key White House proposals, including tax reform, coming to
fruition.
"When you look at some of the
areas that have helped the market, they are waning a bit here," said
Daniel Deming, managing director at KKM Financial. "I think you're also
seeing some valuation concerns as well.
The Nasdaq composite closed 0.2 percent higher after briefly falling 1 percent.
The Dow Jones industrial average ended
about 45 points lower — after falling nearly 200 points earlier, with
Goldman Sachs contributing the most losses. The 30-stock index also
posted an eight-session losing streak, its longest since 2011.
The S&P 500 dipped 0.1, with
financials and telecommunications leading decliners. Financials were
dragged by bank stocks, as the SPDR S&P Bank ETF (KBE) and the
Regional Banking ETF (KRE) both fell around 0.5 percent.
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Source: CNBC (via The Empire Report)
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