The Dow Jones Industrial Average dropped 482.78 points Monday after the Institute for Supply Management reported stronger-than-expected growth in the services sector. File Photo by John Angelillo/UPI | License Photo
Dec. 5 (UPI) — U.S. stocks fell Monday after the latest economic reports showed growth continuing at a hotter-than-expected rate.
The Dow Jones Industrial Average dropped 482.78 points, or 1.4%, to close at 33,947.1. The S&P 500 slid 72.86 points, or 1.79%, to close at 3,998.84, and the Nasdaq Composite fell 221.56 points, or 1.93%, to 11,239.94.
Tech companies and banks saw some of the biggest losses during Monday’s slide. Ceridian HCM and Signature Bank both fell 7.44%; Salesforce Inc. lost 7.35%; Zions Bancorporation fell 7.33%; and Paycom Software slid 7.18%.
Among those to record gains Monday were United Airlines, up 2.6%; MGM Resorts, up 1.9%; and Boeing Co. up 1.2%.
Economists pegged…
