US stocks fall and begin week with losses as rebound attempt stalls; European stocks close slightly higher
U.S. stocks fell on Monday following a major rebound last week from this year’s steep declines. Wall Street is preparing to wrap up the worst first half for stocks in decades.
The Dow Jones Industrial Average fell 62.42 points, or 0.2%, to 31,438.26. The S&P 500 dropped 0.3% to 3,900.11, and the Nasdaq Composite lost 0.7%, falling to 11,524.55.
Etsy was the top decliner in the S&P 500, down about 3.6% following a downgrade by Needham. Shares of Spirit Airlines fell nearly 8% after the company said it would accept the latest takeover bid from Frontier Group.
BioNTech shares also climbed 7.2% after the drug maker said its Omicron-based Covid-19 booster generates an improved immune response against that variant.
The pan-European Stoxx 600 index provisionally ended 0.6% higher, having traded up more than 1% earlier in the session. Mining stocks rose over 2% to lead the gains.
In terms of individual share price movement, Dutch-based tech investor Prosus jumped nearly 16% after announcing a plan to gradually sell down its 28.9% stake in Chinese software titan Tencent.
Source: CNBC, Investing.com