U.S. stocks on Monday ended lower, with Chinese concept stocks outperformed the U.S. market against the trend, while European stocks closed mixed.
U.S. stocks ended lower on Monday, weighed down by a slide in Nvidia, as the combination of regulatory concerns and macroeconomic anticipation weighed on sentiment, leaving investors cautious as the week unfolds.
The Dow Jones Industrial Average fell 240.59 points, or 0.54 percent, to 44,401.93. The S and P 500 sank 37.42 points, or 0.61 percent, to 6,052.85. The Nasdaq Composite Index shed 123.08 points, or 0.62 percent, to 19,736.69.
Nine of the 11 primary S and P 500 sectors ended in red, with financial and communication services leading the laggards by losing 1.41 percent and 1.31 percent, respectively. Meanwhile, health and real estate led the gainers by going up 0.22 percent and 0.09 percent, respectively.
Nvidia stock slipped 2.55 percent on Monday after China opened an antitrust investigation into the chip giant, triggering a broad sell-off in chip stocks.
The latest survey results released by the Federal Reserve Bank of New York on Monday showed that in November, U.S. consumers' expectations for the short, medium and long-term inflation rose across the board. The data alerted investors to the upward risk of U.S. inflation.
Overseas investors paid close attention to the series of important deploys announced by the Chinese government on Monday for next year's economic work, and were optimistic about the effects of relevant policies. They have made significant purchase of China-related securities.
In exchange-traded funds (ETFs), the Direxion Daily FTSE China Bull 3X Shares (YINN) on Monday closed up 23.78 percent.
In the U.S. market, the Nasdaq Golden Dragon China Index surged 8.54 percent, with most Chinese concept stocks in sectors like brokerage and e-commerce posting double-digit gains.
In the European market, the three major indices closed mixed on Monday, as most luxury and discretionary consumer stocks rose significantly.
The FTSE 100 Index closed at 8,352.08 points, up 43.47 points, or 0.52 percent. The Paris CAC 40 closed at 7,480.14 points, up 53.26 points, or 0.72 percent. The DAX Index closed at 20,345.96 points, down 38.65 points, or 0.19 percent.
In the crude oil futures market, investors are optimistic about the Chinese government's policy pack to boost consumption and expand domestic demand, anticipating continued growth in China's crude oil consumption. Driven by this positive sentiment, international oil prices climbed on Monday.
The West Texas Intermediate for January delivery increased 1.17 U.S. dollars, or 1.74 percent, to settle at 68.37 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery gained 1.02 U.S. dollars, or 1.43 percent, to settle at 72.14 U.S. dollars a barrel on the London ICE Futures Exchanges.
In the precious metal futures market, the U.S. unemployment rate edged up in November, heightening market expectations for a 25-basis-point rate cut by the Federal Reserve in December. Additionally, the People's Bank of China increased its gold reserves in November after a six-month hiatus. As a result, international gold prices rose nearly 1 percent on Monday.
US stocks close lower while European stocks end mixed Monday
