The Dow Jones Industrial Average closed at 23,592.98 on Monday with a loss of 507.53 points or -2.11%. The S&P 500 closed at 2,545.94 for a loss of 54.01 points or -2.08%. The Nasdaq Composite closed at 6,753.73 for a loss of 156.93 points or -2.27%. The VIX Volatility Index was higher at 24.61 for a gain of 2.98 points or 13.78%.
Monday’s market movers
U.S. market indexes closed lower Monday and raised correction concerns. Since its September peak, the S&P 500 is now down 11%. The Nasdaq’s last peak was in late August; it is now down 14%.
The market’s close Monday also generated the lowest December return since 1931, which also raised concerns for any Santa Claus rally that might help the U.S. indexes keep their positive annual running average gain.
In the S&P 500, real estate, utilities and consumer discretionary led losses. On the New York Stock Exchange, MOGU ADR (MOGU, Financial) led losses with a return of -17.02%.
Economic reports affecting market trading included the following:
- The NAHB Housing Market Index decreased to 56 in December from 60.
- The Treasury held auctions for three-month bills at a rate of 2.375% and six-month bills at a rate of 2.485%.
In the Dow Jones Industrial Average, the following stocks led losses:
- American Express (AXP, Financial) -4.28%
- Procter & Gamble (PG, Financial) -4.00%
- Nike (NKE, Financial) -3.63%
- Cisco (CSCO, Financial) -3.54%
- Walgreens Boots Alliance (WBA, Financial) -3.20%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,378.14 for a loss of 32.67 points or -2.32%. The S&P 600 closed at 857.58 for a loss of 20.53 points or -2.34%. The Dow Jones Small-Cap Growth TSM Index closed at 8,564.23 for a loss of 210.65 points or -2.40%. The Dow Jones Small-Cap Value TSM Index closed at 8,796.39 for a loss of 198.80 points or -2.21%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,694.31 for a loss of -38.50 points or -2.22%; the S&P 100 at 1,130.63 for a loss of 22.96 points or -1.99%; the Russell 3000 at 1,495.61 for a loss of 32.75 points or -2.14%; the Russell 1000 at 1,405.72 for a loss of 30.59 points or -2.13%; the Wilshire 5000 at 26,160.13 for a loss of 589.22 points or -2.20%; and the Dow Jones U.S. Select Dividend Index at 655.96 for a loss of -16.44 points or -2.44%.
