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US Stocks Head South Weighed Down by Declines in Industrial, Financial Sectors

US equity benchmarks shifted from positive to negative territory on Monday as declines in the industrial and financial sectors offset gains in telecommunications and utilities.

Some five of the Standard & Poor's 500 Index's 11 key segments were higher at the time of writing, led by telecommunications, utilities and real estate, up by 0.39%, 0.39% and 0.36%, respectively, while the industrials sector was 1.1% lower, followed by financials and energy, both 0.3% lower.

In equities, semiconductor and memory device manufacturer Micron Technology ( MU ) was leading the gainers on the Standard & Poor's 500 Index, up by 8.3% at the time of writing. Telecommunications company Charter ( CHTR ) was 3.7% higher and consumer and commercial products company Newell Brands ( NWL ) was up by 3.3%.

Broadcom ( AVGO ) was 2.7% higher after the semiconductor connectivity provider said it expects to complete its redomiciling to the US by April 3.

Decliners on the index were led by Signet Jewelers ( SIG ), a retailer of diamond jewelry, 3.9% lower, followed by medical devices major Cooper Companies (COO), down by 3.5% and aircraft manufacturer Boeing (BA), 2.9% lower. Patterson Companies (PDCO), a medical supplies conglomerate, was also 2.9% lower.

The Dow Jones Industrial Average was 0.44% lower, the Standard & Poor's 500 Index was down by 0.04% and the Nasdaq was 0.36% higher at the time of writing.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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