Stocks have moved sharply lower over the course of the trading session on Monday after failing to sustain an initial move to the upside. The major averages have pulled back firmly into negative territory, partly offsetting the strong gains posted last year.
In recent trading, the major averages have fallen to new lows for the session. The Dow is down 644.77 points or 2.1 percent at 29,961.71, the Nasdaq is down 228.38 points or 1.8 percent at 12,659.90 and the S&P 500 is down 73.41 points or 2 percent at 3,682.66.
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