In New York, the Dow Jones Industrial Average fell for the eight consecutive day on Monday. Investors may have been discouraged by the failure of U.S. President Donald Trump to pass big changes to the health care insurance system that he promised during the campaign.
U.S. stock indexes were down sharply in morning trading, but by Monday’s close, the S&P 500 was off just one-tenth of a percent, with the Dow down two-tenths. The NASDAQ posted a slight gain.
U.S. and other stocks had been mostly rising since the November election on business hopes that promised cuts in taxes and regulation and a boost in spending on public works would stimulate the economy and boost profits.
Now investors are worried that the inability of the Republican president to get support from his Republican-controlled Congress means he will struggle to deliver promised changes on other complex and controversial efforts.
Later this week, government officials will report new data on growth of the U.S. economy and the health of the job market.