U.S. stocks slipped further from their record heights after rising oil prices cranked up the pressure on inflation and financial markets.
The S&P 500 fell 0.5% Monday, but remained near its all-time high set on Thursday.
The Dow Jones Industrial Average dipped 0.5%, and the Nasdaq composite dropped 0.3%.
Wall Street is near records in large part because profits are booming for big U.S. companies.
L3Harris Technologies fell 4.6% after the defense company said Christopher Kubasik stepped down as its CEO and chairman.
Alphabet dipped 0.5% even though Berkshire Hathaway said it increased its investment in Google’s parent company, along with several homebuilders.
On Monday:
The S&P 500 fell 40.70 points, or 0.5%, to 7,745.06.
The Dow Jones Industrial Average fell 272.63 points, or 0.5%, to 53,459.78.
The Nasdaq composite fell 84.25 points, or 0.3%, to 26,644.91.
The Russell 2000 index of smaller companies fell 10.88 points, or 0.4%, to 3,057.54.
For the year:
The S&P 500 is up 899.56 points, or 13.1%.
The Dow is up 5,396.49 points, or 11.2%.
The Nasdaq is up 3,402.92 points, or 14.6%.
The Russell 2000 is up 575.63 points, or 23.2%.
