Stocks closed lower on Wall Street ahead of a week full of potentially market-moving events.
The S&P 500 fell 1.3% Monday as markets prepare for decisions on interest rates around the world and a slew of earnings reports.
Wall Street ended last week at its highest level since early December in part on hopes that cooling inflation will get the Federal Reserve to take it easier on interest rates. Its next decision will come Wednesday, and investors expect a smaller increase. Several of the biggest U.S. companies will also report their earnings this week, and the monthly U.S. jobs report arrives Friday.
The S&P 500 fell 52.79 points, or 1.3%, to 4,017.77.
The Dow Jones Industrial Average fell 260.99 points, or 0.8%, to 33,717.09.
The Nasdaq composite fell 227.90 points, or 2%, to 11,393.81.
The Russell 2000 index of smaller companies fell 25.74 points, or 1.3%, to 1,885.72.
For the year:
The S&P 500 is up 178.27 points, or 4.6%.
The Dow is up 569.84 points, or 1.7%.
The Nasdaq is up 927.33 points, or 8.9%.
The Russell 2000 is up 124.47 points, or 7.1%.