U.S. stocks finish lower as Nasdaq paces losses; Disney stock jumps 6%


U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment and investors weighed remarks from Federal Reserve Bank of San Francisco President Mary Daly on interest rates. The Dow Jones Industrial Average DJIA, -0.13% edged down 0.1%, while the S&P 500 SPX, -0.39% fell 0.4% and the Nasdaq COMP, -1.09% dropped 1.1%, according to preliminary data from FactSet. San Francisco Fed President Daly said Monday that financial markets are acting like the Fed’s benchmark rate is around 6%, instead of the actual 3.75%-4% range. Earlier Monday, the Associated Press reported that China’s southern metropolis of Guangzhou locked down its largest district in a bid to contain a major COVID outbreak.

This article was originally published by Marketwatch.com. Read the original article here.

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