Dow ends 200 points lower as stocks drop Monday after back

U.S. stocks closed lower on Monday, failing to extend robust gains from last week, as technology shares pull back from 2023 highs. The Dow Jones Industrial Average DJIA, -0.59% fell about 200 points on Monday, or 0.6%, ending near 33,562, according to preliminary FactSet data. That was near the session's low. The S&P 500 index SPX, -0.20% shed 0.2%, giving up earlier gains needed to qualify as having exited bear-market territory. The Nasdaq Composite Index COMP, -0.09% ended 0.1% down. Recent gains have largely come from a small group of technology shares, which have powered the overall stock market higher. Among the group is Apple Inc., AAPL, -0.76% which saw shares briefly touch a new intraday trading record on Monday. It lost its grip, however, on those gains in roughly the last hour of trade, ending the session down 1.1%, according to FactSet. With a blackout period in force for Federal Reserve staff, investors remain focused on economic data to help gauge whether the central bank will skip a rate hike at is June 13-14 meeting next week, or give more time for its 500 basis points of rate increases more time to filter through the economy.

These alternative energy and space-related stocks could be the Apples and Nvidias of the future, writes Cody Willard.

Joy Wiltermuth is a news editor and senior markets reporter based in San Francisco.