U.S. stocks closed lower on Monday, extending recent losses, as worries about interest rate hikes and slowing growth continued to weigh on sentiment.
Technology stocks fell on Biden administration's decision to impose export controls on China. Washington published a set of export controls that limit companies selling advanced computing semiconductors and manufacturing equipment to China.
The major averages all ended in negative territory. The Dow, which plunged nearly 300 points early on in the session, ended with a loss of 93.91 points or 0.32 percent at 29,202.88. The S&P 500 settled at 3,612.39, losing 27.27 points or 0.75 percent, while the Nasdaq, which dropped to 10,449.04, ended with a loss of 110.30 points or 1.04 percent at 10,542.10, the lowest close in over 2 years.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.