The Nasdaq Composite closed at a record on Monday after modest gains, but broader markets retreated, led by declines in energy and so-called defensive sectors. A sharp drop in crude-oil prices sent energy shares lower, down 1.4%. Meanwhile, utilities, telecoms and consumer staples all fell more than 1%, as investors continued to rotate out of defensive and into cyclical sectors. Health care and technology stocks outperformed, aiding the the Nasdaq Composite . The tech-heavy index gained 10.76 points, or 0.2%, to 5,531.82. The Dow Jones Industrial Average closed down 75.60 points or 0.4%, at 19,888.20, further retreating from the psychologically significant 20,000 level. The S&P 500 declined 8.06 points, or 0.4%, to 2,268.92.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.