Stocks ended lower in trading on Monday on worries about the euro zone debt crisis. However, all three major indexes finished off session lows.
Stocks remained under pressure throughout the day on mounting worries about Greece. The debt-laden country is yet to reach an agreement with private creditors, which is a key condition to receive the next round of bailout funds from the European Union and the International Monetary Fund. Without additional funds, Greece will default on its debt payments in March.
The Dow Jones ended the day 0.05% lower at 12,653.72, the S&P 500 ended the day 0.25% lower at 1,313.01, and the Nasdaq ended the day 0.16% lower at 2,811.94.
Financials were the worst performers in the S&P 500 on Monday, ending the day 1.01% lower. Basic Materials stocks also fell sharply in trading on Monday, ending the day 0.76% lower. Conglomerates ended the day 0.81% lower. Transportation stocks ended the day 0.42% lower. Technology was the only sector to end the day in green, finishing 0.04% higher.
Among the major gainers and losers in trading on Monday were Pep Boys-Manny, Moe & Jack (NYSE: PBY), which ended the day 23.59% higher at $14.93, Globe Specialty Metals Inc. (NASDAQ: GSM), which ended the day 10.83% lower at $13.83, Renren Inc. (NYSE: RENN), which ended the day 20.19% higher at $6.31, Discovery Communications Inc. (NASDAQ: DISCB), which ended the day 7.78% lower at $46.02, Thomas & Betts Corporation (NYSE: TNB), which ended the day 23.05% higher at $71.31, Melco Crown Entertainment Ltd. (ADR) (NASDAQ: MPEL), which ended the day 7.42% lower at $10.85, and Amylin Pharmaceuticals Inc. (NASDAQ: AMLN), which ended the day 17.46% higher at $14.26.
European markets ended mostly lower in trading on Monday on mounting worries about a Greek default.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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