S&P 500 ends just shy of correction territory
Stocks closed lower Monday in a volatile session with the Dow Jones Industrial Average swinging over 900 points as concerns about global growth resurfaced following a news report that suggested that the U.S. is about to intensify its trade war with China.
The Dow Jones Industrial Average DJIA, -0.99% shed 245.39 points, or 1%, to close at 24,442.92. At its session low, it was down 566 points, and was up as much as 352 points at its intraday peak. The S&P 500 index SPX, -0.66% slid 17.44 points, or 0.7%, to 2,641.25 and the Nasdaq Composite Index COMP, -1.63% dropped 116.92 points, or 1.6%, to 7,050.29
With the Nasdaq already in correction territory—widely defined as a pullback of 10% from a recent peak—the Dow and the S&P 500 came close, although both indexes trimmed losses ahead of the closing bell.