Dow drops nearly 400 points as market sell-off continues, bank shares lead slide
Stocks traded sharply lower on Monday in a volatile session as banks and Apple led the decline. Traders pointed to a number of reasons for the selling, including an adverse ruling in a Chinese court against Apple, a flattening yield curve and a delayed Brexit vote in the United Kingdom.
The Dow Jones Industrial Average fell 386 points and entered into correction territory. The S&P 500 dropped 1.2 percent, briefly breaking below 2,600, as the financials sector pulled back 2.6 percent. The Dow and S&P 500 are now down more than 2.5 percent for the year. The Nasdaq Composite traded 0.5 percent lower.