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• The S&P 500 slipped by 0.4%, while the Nasdaq Composite Index COMP closed down 1.2%
Worries of global slowdown propagated by a downbeat Chinese economic data, led to mixed market response on Monday, with equities cooling off in the final trading hour.
The Dow Jones Industrial Average rose about 27 points, or 0.1%, to end near 32,224, after trading almost 300 points higher earlier in the session.
The S&P 500 slipped by 0.4%, while the Nasdaq Composite Index COMP closed down 1.2%.
Investors are focused on inflation, recession concerns, and a string of disappointing economic data in the U.S., Europe, and China.
Market movers
Treasury yields also fell on Monday as investors flocked to the debt for safety, with the 10-year rate down 5.5 basis points at 2.877%, off a high of 3.124% earlier in May.
Energy stocks were slightly up after optimism surrounding China’s demand recovery after the economy reopens again, following a strict lockdown last month.
The S&P 500 energy index rose 3.6%, making it the strongest performer among 11 sector indexes.
Tesla (NASDAQ: TSLA) dropped almost 5% and Amazon (NASDAQ: AMZN) was down 1.2%. Microsoft (NASDAQ: MSFT) gained 1.2%.
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