Dow cuts 480-point loss, turns positive on Monday as Microsoft, other tech shares rebound; Europe stocks close sharply lower as China Covid concerns overshadow Macron reelection 
The Dow Jones Industrial Average cut a nearly 500-point intraday loss Monday as technology names like Microsoft rallied amid falling interest rates. 
The blue-chip average rose about 170 points, or 0.5%, after being down as much as 488 points earlier in the session. The S&P 500 ticked up 0.3%. The tech-heavy Nasdaq Composite gained 0.9%. 
Twitter rose about 5% after the social media company announced it accepted billionaire Elon Musk’s buyout deal valued at about $44 billion. 
Coca-Cola shares were marginally higher after the company reported better-than-expected quarterly earnings before the bell Monday. 
On the downside, fears of a global slowdown sent oil prices lower. WTI crude fell more than 4%, back below $100. 
Energy shares retreated, comprising the worst-performing S&P 500 sector Monday. Chevron fell more than 2% and was the second biggest decliner on the Dow. Exxon Mobil lost more than 3%.European stocks closed sharply lower on Monday as concerns over a resurgence of Covid cases in China overshadowed the reelection of French President Emmanuel Macron. 

The pan-European Stoxx 600 index closed down by 1.8% provisionally with nearly all sectors in negative territory. Basic resources stocks — with their heavy exposure to China — were the worst performers on the index, with the sector down 5.9%. 
Shares of Dutch health technology company Philips were down more than 11% after the firm reported a steep drop in first-quarter core profit. 
At the top of the Stoxx 600, Ubisoft shares surged 9.5% after Bloomberg reported the French video game publisher has attracted takeover interest from private equity firms Blackstone and KKR. 
Source: CNBC, Investing.com