Stocks End Lower on Monday

Rising COVID Cases Abroad Worry Investors

While investors are concerned about the rising COVID cases overseas, the holiday-headed economy looks gloomy, and the US stocks fell on Monday. At around 4 p.m., the S&P 500 had dropped. The Dow Jones Industrial Average declined 0.1%, while the Nasdaq Composite fell 1%.

Investors anticipated that if China’s COVID-19 containment steps weakened, the economic expansion would accelerate there – as well as globally. Residents in several Chinese cities were no longer required to show proof of a recent negative test to enter public spaces. They said that mandatory mass testing would no longer be carried out.

Developments at Home Add to Investor Pessimism

Investors are tracking an array of unsettling news in the United States and China. The holiday season is up and about. A railroad worker strike might interrupt some supply lines in December, causing paralysis. Investors will also examine the degree to which inflation is biting into consumers’ purchasing power throughout the holiday shopping season.

With the Thanksgiving holiday on Thursday, investors were forecasting a calm week on the data front. The release of the minutes of the recent Federal Reserve meeting is the most important economic event. Investors will be looking for indications from Fed officials on whether it will slow down its interest-rate increases.

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