U.S. stocks ended a volatile month of August with a decline on Monday, as the broader market averages fell 0.7% to 1.1% across the board. Health care and utility names led the way lower. Energy stocks rallied as the price of crude oil added another 7% to recent gains.
The CBOE S&P 500 Volatility index also rebounded more than 9% to 28.47. Elsewhere, the yield on the benchmark 10-year U.S. Treasury note gained 3.2 basis points to 2.213%.
Medicines (MDCO) was the big winner on Monday, gaining nearly 22% after positive clinical results for its cholesterol drug. On the other hand, Wayfair (W) fell more than 11% after being highlighted as a short-sale target by Citron Research.
Looking ahead to Tuesday morning, Dollar Tree (DLTR) headlines the earnings calendar. The major automakers will also report August monthly sales.
Think you can own big tech? You might just get an 'F' for that. Here's what will get you on the other side of this year.
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