Technology and health care companies drove stocks lower for a second straight day Monday as investors tried to gauge the Federal Reserve’s next move on interest rates.
A strong U.S. jobs report Friday dimmed investors’ expectations that the Fed would cut its benchmark interest rate by as much as half a percentage point later this month. Many investors still expect a quarter-point cut.
The S&P 500 fell 14.46 points, or 0.5%, to 2,975.95.
The Dow Jones Industrial Average slid 115.98 points, or 0.4%, to 26,806.14.