A strong U.S. jobs report Friday dimmed investors’ expectations that the Fed would cut its benchmark interest rate by as much as half a percentage point later this month. Many investors still expect a quarter-point cut.
The S&P 500 fell 14.46 points, or 0.5%, to 2,975.95.
The Dow Jones Industrial Average slid 115.98 points, or 0.4%, to 26,806.14.
The Nasdaq composite lost 63.41 points, or 0.8%, to 8,098.38.
The Russell 2000 index of smaller company stocks dropped 14.24 points, or 0.9%, to 1,561.39.
For the year:
The S&P 500 is up 469.10 points, or 18.7%.
The Dow is up 3,478.68 points, or 14.9%.
The Nasdaq is up 1,463.10 points, or 22.1%.
The Russell 2000 is up 212.83 points, or 15.8%.