US Stocks Lower; Dow Tumbles Over 250 Points

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 250 points on Monday.

Following the market opening Monday, the Dow traded down 0.61% to 49,202.71 while the NASDAQ declined 0.10% to 23,647.92. The S&P 500 also fell, dropping, 0.21% to 6,951.34.

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Leading and Lagging Sectors

Consumer staples shares gained by 0.6% on Monday.

In trading on Monday, financial stocks dipped by 1%.

Top Headline

Federal Reserve Chair Jerome Powell said on Sunday that the Department of Justice had threatened the central bank with “criminal indictment” over his testimony before Congress, relating to its building renovation costs. This marks a major escalation in tensions between President Donald Trump and the central bank.

Equities Trading UP
           

• Envirotech Vehicles Inc (NASDAQ:EVTV) shares shot up 155% to $1.18.
• Shares of Ping An Biomedical Co Ltd (NASDAQ:PASW) got a boost, surging 45% to $0.29 after dipping 68% on Friday.
• Sound Group Inc – ADR (NASDAQ:SOGP) shares were also up, gaining 45% to $17.00.

Equities Trading DOWN

• Atara Biotherapeutics Inc (NASDAQ:ATRA) shares dropped 54% to $6.24 after the company received FDA Complete Response Letter for EBVALLO BLA, citing clinical trial adequacy concerns.
• Shares of Lyra Therapeutics Inc (NASDAQ:LYRA) were down 51% to $1.83. Lyra Therapeutics announced plans to suspend further development of LYR-210, its lead product candidate for chronic rhinosinusitis, and implement a workforce reduction impacting its remaining 28 employees.
• NovaBay Pharmaceuticals Inc (NYSE:NBY) was down, falling 29% to $13.69.

Commodities

In commodity news, oil traded down 0.3% to $58.95 while gold traded up 2.3% at $4,605.90.

Silver traded up 6.5% to $84.485 on Monday, while copper rose 1% to $5.9605.

Euro zone

European shares were higher today. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index fell 0.1%. London's FTSE 100 gained 0.1%, Germany's DAX rose 0.4% and France's CAC 40 rose 0.1% during the session.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index gaining 1.44%, China's Shanghai Composite rising 1.09% and India's BSE Sensex rising 0.36%.

Economics

No major economic reports are scheduled for release today.

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