NEW YORK (Reuters) – The New York Stock Exchange ended lower on Monday, with no catalyst to extend the strong rebound of the previous week as worries over inflation and the Reserve’s monetary policy tightening federal have not disappeared.
The Dow Jones index fell 0.2%, or 62.42 points, to 31,438.26 points.
The broader S&P-500 lost 11.63 points, or 0.30%, to 3,900.11 points.
The Nasdaq Composite fell by 96.06 points (-0.83%) to 11,511.57 points.
As the end of June approaches, all three major indices look set to register a second consecutive quarterly decline for the first time since 2015.
Sensitive to changes in interest rates, the digital giants, which fueled last week’s rebound, this time weighed on the image trend for Amazon (-2.78%), Microsoft (-1 .05%) or Alphabet (-1.82%).
The rise in oil prices, on the other hand, benefited the energy sector, in which Exxon Mobil (+2.45%) and Chevron (+1.93%).
The airline Spirit Airlines fell 7.95% after recommending its shareholders to accept the takeover offer from Frontier Group Holdings (-11.2%), to the detriment of that of JetBlue Airways (+1.62 %).
(Stephen Culp report, with Shreyashi Sanyal and Amruta Khandekar Bangalore, French version Bertrand Boucey)
by Stephen Culp