U.S. Stocks Close Lower After Oil Prices Drop 3%

By Wallace WitkowskiMarketWatch Pulse

U.S. stocks closed lower Monday after weaker oil prices cut into the strength built up from the Federal Reserve's dovish stance last week. The Dow Jones Industrial Average declined 55.75 points, or 0.3%, to close at 17,737.00, led by drops in shares of Nike Inc. and General Electric Co. . The S&P 500 Index shed 6.65 points, or 0.3%, to close at 2,066.13, with the industrials and materials sectors performing the worst. The Nasdaq Composite Index fell 22.75 points, or 0.5%, to finish at 4,891.80.

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