U.S. stocks traded down on Monday after media reports suggested Chinese officials would not strike a deal on intellectual property protections, a provision American industry has long hoped for, when negotiators meet later this week.
The Dow Jones Industrial Average fell around 96 points, or 0.4%, to finish near 26,477, according to preliminary figures, while the S&P 500 lost more than 13 points, 0.5%, to close near 2,939. The Nasdaq fell about 26 points, or 0.3%, closing near 7,956.
Investors are looking forward to another interest-rate cut when the Federal Reserve meets later this month. And shares of a company that went public last week, SmileDirectClub Inc., lost nearly 7%, even as two Wall Street firms published positive views on the stock.
Source : Marketwatch