After pushing stock indexes to record highs last week, investors turned cautious on Monday ahead of a batch of corporate earnings reports. The Dow Jones industrial average ended almost 50 points lower after closing above 17,000 for the first time last week. Investors moved money into stocks traditionally thought of as safer than the broader market: utilities, telecommunication companies and makers of consumer staple goods such as soft drinks and detergent.
The Dow Jones industrial average lost 44.05 points, or 0.3 percent, to close at 17,024.21.
The Standard & Poor’s 500 index fell 7.79 points, or 0.4 percent, to 1,977.65.
The Nasdaq composite index fell 34.40 points, or 0.8 percent, to 4,451.53.
For the year:
The Dow is up 447.55 points, or 2.7 percent.
The S&P 500 index is up 129.29 points, or 7 percent.
The Nasdaq is up 274.94 points, or 6.6 percent