NEW YORK: U.S. stocks were pulled lower by a slide in utilities stocks, as major indexes gave back ground after last week’s sharp rally.
Stocks spent much of the session wobbling between gains and losses in light holiday-week trading. The moves followed a rebound last week that had delivered the largest weekly gain for the S&P 500 in nearly a year.
The Dow Jones Industrial Average lost 31.13 points, or 0.2%, to 17792.68. The S&P 500 fell 2.58, or 0.1%, to 2086.59, while the Nasdaq Composite inched down 2.44, or 0.05%, to 5102.48.
The Dow was weighed down by a slide in the shares of Pfizer. The pharmaceutical company’s stock fell 85 cents, or 2.6%, to $31.33 after it and Allergan PLC agreed on a roughly $150 billion merger deal. Allergan shares fell 10.74, or 3.4%, to 301.72.
