U.S. stocks fell more than 300 points at the start of Monday trade, as investors digested a parade of earnings, in the busiest week for earnings, and braced for a number of key political an economic reports.
A report from Dow-component Caterpillar was a key drag for the blue-chip index after it reported disappointing results, citing China's slowing economy and higher material and transpiration costs.
The Dow Jones Industrial Average fell 318 points, or 1.3%, at 24,412, the S&P 500 index declined by 1% at 2,637, while the Nasdaq Composite Index retreated by 1.4% at 7,061.
Looking ahead, investors are awaiting a policy update from the Federal Reserve on Wednesday and a key employment report on Friday.
Elsewhere in corporate news, Nvidia Corp. plunged 17.6% early Monday after it lowered its guidance for revenues for 2019.
Source : Market Watch