U.S. stocks fell on Monday, pressured by a more than 2% drop in shares of Apple Inc and as investors toned down expectations of an aggressive interest rate cut by the Federal Reserve later this month.
A surprisingly strong U.S. jobs data on Friday has forced traders to temper hopes of a sharp rate cut at the central bank's July 30-31 policy meeting, even as a reduction is still expected.
At 11:00 a.m. ET, the Dow Jones Industrial Average was down 129.29 points, or 0.48%, at 26,792.83, and the S&P 500 was down 14.84 points, or 0.50%, at 2,975.57. The Nasdaq Composite was down 64.24 points, or 0.79%, at 8,097.55.
Source : Reuters