U.S. stocks dipped Monday after Moody’s Investors Service lowered its U.S. credit rating outlook to negative from stable.
The Dow Jones Industrials retreated 37.66 points to 34,245.14.
The S&P 50 index fell 15.05 points to 4,400.19.
The NASDAQ slid 65.36 points to 13,732.74.
Driving the losses in the S&P 500 were V.F., down 3.4%, Illumina off 4.2%, and Boston Properties, sinking 3% just after the open. Shares of Boeing added more than 4% after Emirates announced a $52-billion order for 95 aircraft.
Investors are awaiting the release of fresh U.S. inflation data this week, with the latest reading on the consumer price index slated for release Tuesday.
Prices for the 10-year Treasury backtracked, raising yields to 4.67% from Friday’s 4.62%. Treasury prices and yields move in opposite directions.
Oil prices perked 67 cents to $77.84 U.S. a barrel.
Gold prices brightened $1.10 to $1,938.80.