Stocks fell broadly on Wall Street Monday as the market kicked off the first day of trading in 2021 by pulling back from its recent record highs.
Declines in technology, industrial, communication services and other sectors weighed on the market. Only the S&P 500′s energy sector managed to eke out a gain.
The S&P 500 fell 55.42 points, or 1.5%, to 3,700.65.
The Dow Jones Industrial Average gave up 382.59 points, or 1.3%, to 30,223.89.
The Nasdaq composite lost 189.84 points, or 1.5%, to 12,698.45.
The Russell 2000 index of smaller companies dropped 28.94 points, or 1.5%, to 1,945.91.