Stocks opened modestly lower Monday, adding to small losses seen Friday after stronger-than-expected June U.S. jobs data saw investors scale back the scope of expected rate cuts by the Federal Reserve. The Dow Jones Industrial Average DJIA, -0.43% fell 164.76 points, or 0.6%, to 26,757.36, while the S&P 500 SPX, -0.48% declined 16.05 points, or 0.5%, to 2,974.36. The Nasdaq Composite COMP, -0.78% shed 61.24 points, or 0.8%, to 8,100.55. Shares of Apple Inc. AAPL, -2.06% led Dow decliners, falling 1.6% after Rosenblatt Securities downgraded the stock to sell from neutral.
See Full Story Dow closes lower as Apple, Boeing shares slump, investors rethink Fed rate-cut chances
Stocks close lower Monday as investors scale back expectations for interest-rate cuts following