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Dow Falls 123, Erasing Gains

Nine of 10 market sectors take a tumble
By Newser Editors and Wire Services
Posted Feb 29, 2016 2:23 PM CST
Updated Feb 29, 2016 3:23 PM CST

(Newser) – Late-day selling pushed US stocks to a loss for the day and erased nearly all of the market's gains for the month. Nine of the 10 market sectors fell Monday—only utilities managed a slight gain—as investors lost enthusiasm for stocks after two straight weekly gains. Health care stocks fell furthest as Endo International, Mylan, and Mallinckrodt all fell sharply. The Dow Jones industrial average fell 123 points, or 0.7%, to 16,516. The Standard & Poor's 500 index lost 15 points, or 0.8%, to 1,932. The Nasdaq composite fell 32 points, or 0.7%, to 4,557. For the month, the Dow managed a gain of 0.3%, while the S&P 500 fell 0.4% and the Nasdaq fell 1.2%. (Read more stocks stories.)

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