NEW YORK: Wall Street stocks retreated Monday with petroleum-linked shares falling on lower oil prices and Tiffany declining on the departure of its chief executive.
Most oil producers tumbled on lower oil prices, with midsized companies suffering some of the hardest falls. Devon Energy dropped 3.2 percent and Marathon Oil 4.1 percent.
Jeweller Tiffany & Co. lost 2.5 percent after announcing over the weekend that Frederic Cumenal had departed as chief executive and would be replaced on an interim basis by chairman and former chief executive Michael Kowalski.
The Dow Jones Industrial Average shed 0.1 percent to end the day at 20,052.42.
The broad-based S&P 500 declined 0.2 percent to 2,292.56, while the tech-rich Nasdaq Composite Index dropped 0.1 percent to 5,663.55.
It was a light day as far as major economic data releases, and analysts said the market was still absorbing Friday’s rally following a solid US jobs report, as well as President Donald Trump’s plan to review banking regulations imposed after the 2008 financial crisis.
This week’s calendar of earnings includes Coca-Cola, General Motors, Disney and Expedia.
