Hong Kong Unrest Weighs on Stock Markets: Dow Drops

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/ Source: CNBC.com

U.S. stocks closed down on Monday despite encouraging economic data as the Hong Kong protests weighed on global markets. Energy led declines on the S&P and Dow Jones Industrial Average, with Exxon Mobil and Chevron the hardest hit. The Dow and S&P regained ground after falling about 1 percent in the open. In late-morning trade, the Nasdaq also reversed losses to turn positive briefly before trading in the red again.

Stocks did not move much in reaction to a 1 percent decline in pending home sales for August, and futures were little changed after reports that personal income rose 0.3 percent in August, as expected. The Dow Jones Industrial Average closed down 41.9 points, or 0.24 percent, at 17,071.22, with Exxon Mobil leading losses. The S&P 500 ended 5.04 points lower, or 0.25 percent, at 1,977.81, with energy the greatest decliner and utilities the only advancer among 10 sectors. The Nasdaqclosed down 6.34 points, or 0.14 percent, at 4,505.85.


-- Evelyn Chang, CNBC