The Dow Jones Industrial Average closed down 92 points, or 0.5 per cent, to 17,598, while the broader S&P 500 fell 0.3 per cent (6 points) to 2,098.
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The most anticipated economic release of the week comes Friday with the July jobs report.
Tyson Foods (TSN) shares fell 9.9 percent during Monday’s session after the biggest U.S. meat processor cut its profit forecast for the year, citing export market disruptions in its beef business and high cattle costs. France’s CAC 40 Index rose 0.8 percent, while Germany’s DAX Index gained 1.2 percent.
“What investors forget is that China’s stock market is still higher than it was at the beginning of the year”, Martin Leclerc, chief investment officer and portfolio manager at Barrack Yard Advisors, told Market Watch.
In the United States, consumer spending recorded its smallest gain in four months, while the pace of growth in the manufacturing sector slowed in July. And light, sweet crude oil for September delivery dropped 4.1% at a final fix of $45.17 a barrel. The Nasdaq composite slipped 12.90 factors, or zero.three %, to five, 115.38. The insurer also hiked its dividend and authorized up to $5 billion in new share repurchases, moves that BMO Capital Markets said were intended to compensate for a weak underwriting performance in some businesses.
China’s factory activity contracted more than initially estimated last month, a survey showed. Despite the fact that the stock fell for the tenth time in eleven days, losing 3.2 percent to its lowest point in six months, trading volume was at its highest level since January. Shire fell 5.4 per cent. Baxalta rejected the offer, saying it “significantly undervalues” the company.
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Nice Systems rose 1 percent to $65.15 after the Israeli software provider agreed to sell its video surveillance technologies unit to private equity firm Battery Ventures. Economists had anticipated the index to stay unchanged. Treasury prices rose slightly, pushing the 10-year yield down to 2.172% from 2.207% on Friday.
