Dow Closes Down 276 Points
NEW YORK (AP) _ Investors, unsure that the market’s month-long winning streak will continue, cashed in their winnings Monday and sent stocks sharply lower. The Dow Jones industrials fell more than 270 points.
Analysts said they weren’t alarmed by the decline, however, noting that stock prices have been moving higher for several weeks. They also said Wall Street might be playing it safe before consumer confidence and gross domestic product figures are released later this week.
The Dow closed down 275.67 at 9,269.50, according to preliminary calculations. It was the index’s biggest decline since the precipitous 684-point drop on Sept. 17, when trading resumed following the terrorist attacks.