The U.S. markets were a mixed bag Monday. The blue chips posted gains, while tech stocks were particularly hard hit ahead of Alibaba’s IPO, which is slated to launch later this week and could be the largest initial offering in history. Investor concern over the upcoming Fed policy meeting and the Scottish independence vote also weighed on stocks.
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Crude oil climbed to $92.92 per barrel, up $0.63 or 0.70%. Gold also inched upwards to settle at $1,235.1 per ounce, gaining $3.60 or 0.29%. Of the major indexes, only the Dow Industrials posted gains, climbing to 17,031.14 to close up 43.63 points or 0.26% on the day. The S&P 500 dipped 0.07% to close at 1,984.13, down 1.41 points. The NASDAQ Composite saw a steep decline, falling 48.70 points to close down 1.07% at 4,518.90, with the tech heavy NASDAQ 100 following suit to close down 39.34 points at 4,029.89 or 0.97%. The small cap Russell 2000 was the hardest hit, shedding 1.21% to close down 14.09 at 1,146.52, while The Fox 50 remained mostly flat, losing only 0.01% to close down 0.19 points at 1,403.57.