By The Associated Press
NEW YORK – U.S. stocks ended lower Monday for the first session in five as investors paused after a recent win streak lifted the indexes to multiyear highs.
Given recent gains, “today’s profit-taking is pretty mild. All that matters at this point is the Fed is going to continue to be a major player in the financial markets, and continue to buy, essentially forever,” said Paul Nolte, managing director at Dearborn Partners in Chicago.
The Dow Jones industrial average fell 40.27 points, or 0.3 percent, at 13,553.10.
A four-session climb that included the Federal Reserve’s announcement Thursday that it would start an open-ended bond purchase program to support the U.S. economy resulted in the Dow closing Friday at its highest level since Dec. 10, 2007.
The Samp&P 500 index slid 4.58 points, or 0.3 percent, at 1,461.19. The Nasdaq composite declined 5.28 points, or 0.2 percent, to 3,178.67.
Oil ended down $2.38, or 2.4 percent, at $96.62 a barrel.
The dollar edged higher against other currencies.