U.S. stocks closed lower on Monday after spending much of the day's session in negative territory as investors largely stayed cautious, reassessing the expected path of Federal Reserve interest rate hikes amid falling inflation expectations.
The major averages all ended in the red with the Nasdaq posting a more pronounced loss. The Dow ended down by 62.42 points or 0.2 percent at 31,438.26, coming off the day's high of 31,598.59. The S&P 500 settled lower by 11.63 points or 0.3 percent at 3,900.11, while the Nasdaq closed lower by 83.07 points or 0.72 percent at 11,524.55.
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