U.S. stock benchmarks on Monday finished off their worst levels but firmly in negative territory, as early optimism around a possible U.S.-China trade agreement being forged soon faded.
The Dow Jones Industrial Average fell 207 points, or 0.8%, to 25,820, the blue-chip gauge had lost as many as 415 points or 1.6% at the lows. Meanwhile, the S&P 500 index finished down 0.4% at 2,793, giving up its perch at the psychologically significant level at 2,800. The Nasdaq Composite Index retreated 0.2% at 7,577, on a preliminary basis.
All three benchmarks had opened solidly higher after the Wall Street Journal reported Sunday that Beijing and Washington were in the final stages of completing a trade deal after yearlong disagreement.