LONDON: U.S. stocks finished firmly in negative territory Monday, as plunging oil prices walloped energy and materials stocks, partially undoing some of Friday’s big rally.
The S&P 500 SPX, -0.70% fell 14.62 points, or 0.7%, to close at 2,077.07. The Dow Jones Industrial Average DJIA, -0.66% fell 117.12 points, or 0.7%, to 17,730.51, but finished off its lows of the session after sliding more than 200 points earlier Monday. Monday’s downturn helped push the blue-chips gauge negative for the year, down 0.52%.
Meanwhile, the Nasdaq Composite COMP, -0.79% ended the session 40.46 points, or 0.8%, lower at 5,101.81.
Oil futures CLF6, +0.32% plunged 5.8% to $37.65 a barrel, marking their lowest settlement in nearly seven years. This slammed shares of energy companies after the Organization of the Petroleum Exporting Countries’s decision on Friday to keep crude production running at current levels.
