U.S. stocks fell on Monday, dragged down by the energy sector as oil prices slipped. Rising interest rate worries also weighed on investor sentiment. Economic data due out later this week will be closely watched for clues about the Federal Reserve’s next move.
The energy sector was the biggest loser, with companies like ExxonMobil and Chevron experiencing significant declines. Lower crude oil prices put pressure on these stocks.
Financial stocks were also weaker, reflecting concern about the impact of higher interest rates on lending and investment activity. The technology sector managed to hold its ground, supported by earnings news from select companies.
Overall, the market’s performance reflected ongoing uncertainty about the economic outlook. Investors are balancing positive earnings reports with concerns about inflation and the potential for further interest rate hikes.