NEW YORK, Sept. 24 (Xinhua) -- U.S. stocks fell on Monday, with the broad S&P 500 posting the third straight decline as investors were concerned about the global economic growth in face of weak data.
The S&P 500 lost 3.26 points, or 0.22 percent, to finish at 1, 456.89. The blue-chip Dow Jones Industrial Average slipped 20.55 points, or 0.15 percent, to close at 13,558.92, while the Nasdaq declined 19.18 points, or 0.60 percent, to end at 3,160.78.
The Tech-heavy Nasdaq was the worst performer among three major indexes, dragged by its powerhouse Apple.
Shares of Apple tumbled 1.33 percent, accounting for about half losses of Nasdaq, even after the tech giant sold more than 5 million Iphone 5 devices during the first weekend as such result was still lower than some analysts had expected.
Among the S&P sectors, technology and basic material led the losses, while utilities managed small gains.
New stimulus plans from central banks in Europe, Japan and the U.S. have not been enough to overcome pessimism about the global economic prospects. Investors started to re-focus on the weakening economic fundamentals and worried about crude demand.
German business sentiment dropped in September for the fifth straight month, fueling fears of recession in the largest economy of euro zone. In addition, the markets remained cautious about the bailout plan for Spain that was in discussion, worsening worries about the region's debt future.
Investors were expecting the Spanish government to act promptly and ask for the international bailout, a precondition for the European Central Bank to tap its bond buying program. But uncertainties increased for Spain as well as Greece as international debtors differed on bailout details.
In the U.S., the Labor Department said on Friday that the unemployment rate climbed in more than half of the country's states in August, the latest evidence to tepid job markets. The World Trade Organization, meanwhile, cut forecasts for global trade growth for this year and next, showing its pessimism about world economic activities.
On the other markets, the dollar rose against the euro as Germany's weak data and uncertainties in resolving the region's debt crisis weighed on the common currency.
Crude prices dropped on the global gloomy economic outlook and the strengthening dollar, with the U.S. crude settling at 91.93 dollars a barrel and the Brent crude closing at 109.81 dollars a barrel. The Gold also dipped on a stronger dollar and the most active contract for December delivery lost 13.4 dollars to finish at 1,764.6 dollars per ounce.
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