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iStock/Thinkstock(NEW YORK) — U.S. stocks closed lower Monday as investors fretted over geopolitical issues and a possible interest rate hike this month.
The Dow Jones Industrial Average fell 51.37 (-0.24 percent) to finish at 20,954.34.
The Nasdaq gave up 21.58 (-0.37 percent) to close at 5,849.18, while the S&P 500 finished at 2,375.31, down 7.81 (-0.33 percent) from its open.
Crude oil prices were flat at about $53 a barrel.
Federal Reserve: Investors digested Federal Reserve Chairwoman Janet Yellen’s news from Friday that raising interest rates this month “would likely be appropriate.” At the end of this week, investors will be able to see the February jobs report, which will further indicate whether or not there may be a rate hike coming soon from the U.S. central bank.
North Korea: North Korea launched several ballistic missiles into the Sea of Japan on Sunday in an apparent reaction to joint U.S.-South Korea military drills that kicked off before the weekend. Japan’s Nikkei 225 sunk 90.03 (-0.46 percent).
Winners and Losers: Shares in biotech company TG Therapeutics skyrocketed 91 percent Monday on news that the phase 3 trial of a leukemia treatment met its primary endpoint.
General Motors Co. sunk about 1 percent after the automaker announced it wold sell its European brands, Opel and Vauxhall, to PSA Group in a deal valued at 2.2 billion euro, or $2.33 billion.
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