On Monday, U.S. stocks started the week on a slightly downward trajectory, signaling a potential quiet period after experiencing their best week since March.

The S&P 500 index declined by 8.58 points, equivalent to 0.2%, settling at 4,273.79. The Dow Jones Industrial Average saw a drop of 199.90 points, or 0.6%, reaching 33,562.86.

Similarly, the Nasdaq composite slipped by 11.34 points, or 0.1%, ending at 13,229.43, the Associated Press reported.

Following the release of a report indicating that growth in the construction, accommodation, and other U.S. services industries fell short of economists’ predictions last month, a majority of stocks on Wall Street experienced a decline.

Nevertheless, it was still the fifth consecutive month of expansion.

This latest development adds to the mixed readings concerning the U.S. economy, which has defied expectations of a recession but has begun to slow down due to the impact of higher interest rates.

Written by staff