Stocks drop to session lows, Dow now down more than 500 points
Stocks fell sharply to start the week on Monday after a historic decline in U.S. crude prices. The market was coming off its first back-to-back weekly gains in more than two months.
The Dow Jones Industrial Average traded 552 points lower, or 2.3%. The S&P 500 slid 1.8%. (Click here for the latest market news.) Boeing fell more than 7% to lead the Dow lower while Chevron and Exxon Mobil dropped more than 4% each. Energy and utilities were the worst-performing sectors in the S&P 500, falling more than 3% each.
The Nasdaq Composite was down 0.5% as gains from stay-at-home plays offset other losses. Amazon and Netflix rose 2.2% and 4.8%, respectively, while Roku climbed more than 6%.