UHOH! So much for the rise in stocks from Friday, eh?
New York stocks erased earlier gains to end slightly lower Monday, with the Dow key index ending at a three-week low amid directionless trading.
The 30-issue Dow Jones Industrial Average, which fell 8.99 points last Friday, shed another 5.29 points to finish at 10,138.52, hitting its lowest closing since June 9.
The tech-heavy Nasdaq Composite Index, which rose 6.06 points last Friday, gave up 2.83 points to close at 2,220.65.
New York stocks mostly moved in positive territory on favorable U.S. economic data concerning consumer spending in May, market analysts said.
But selling set in amid speculation that the weekend agreement by the Group of 20 to halve fiscal deficits in developed countries would lead to backpedaling on their economic stimulus measures, they said.
Keep going Obama you moosetwit.
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