Markets End the Day Lower

Dow, S&P 500, Nasdaq all close lower
By Newser Editors and Wire Services
Posted Aug 8, 2016 3:03 PM CDT

(Newser) – Stocks closed lower on Wall Street Monday as investors pulled back from the major indexes' record highs of last week, the AP reports. Consumer-focused and drug company shares weighed on sentiment the most, while energy shares surged along with the price of oil. Bristol-Myers Squibb dropped nearly 5% in a renewal of selling begun Friday, when it said its cancer treatment Opdivo failed a study aimed at extending its usage. Walmart Stores slipped 0.6% after saying it'll pay $3.3 billion in cash and shares for online retailer Jet.com. The Dow Jones industrial average dropped 14 points, or 0.1%, to 18,529. The Standard & Poor's 500 fell 2 points, or 0.1%, to 2,181. The Nasdaq composite fell 8 points, or 0.2%, to 5,213. (Read more Dow Jones stories.)

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