NEW YORK: U.S. stocks declined on Monday, with the tech stocks leading the market lower. The slump in the main stock-market indexes marked the third consecutive session, with the Dow industrials erasing year-to-date gains.
The S&P 500 SPX, -0.65% fell 13.55 points, or 0.7% to 2,079.28, as technology stocks led the declines. The benchmark index is down more than 2% from its peak reached on May 21.
The Dow Jones Industrial Average DJIA, -0.46% lost 82.91 points, or 0.5% to 17,766.55 and turned negative for the year. The Nasdaq Composite COMP, -0.92% declined 46.83 points, or 0.9%, to 5,021.63.
Airline company stocks were among the big losers on the day after analysts at Raymond James cut their ratings and earnings forecasts. American Airlines Group Inc. AAL, -4.46% was down 4.5%, while Delta Air Lines Inc. DAL, -5.01% fell 5% and Southwest Airlines LUV, -2.85% declined 2.9%.
Monday’s slump comes after upbeat jobs data released Friday raised concerns that an interest-rate hike this autumn is a possibility. The rate-setting Federal Open Market Committee meets June 16-17.
