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Dow Jones Industrial Average fell 102 points, or 0.8%, to close at 12,927. The
S&P 500 dropped nearly 12 points, or 0.8%, to finish at 1367 and the
Nasdaq Composite lost 30 points, or 1%, to settle at 2970.
Breadth within the Dow was negative with 27 of the index's 30 components posting losses.
Shares of Wal-Mart fell 4.66% to $59.54 on about five times the stock's average daily trading volume. The discount retailer reportedly used
bribes in Mexico to help build stores and gain market share in the country.
TheStreet Ratings gives Wal-Mart an A grade with a buy rating and
$71.41 price target.
Shares of Bank of America dropped 2.15% to $8.18. A class-action lawsuit has been filed against the company, saying the proposed
$20 million settlement related to its acquisition of Merrill Lynch in 2009 is too small.
TheStreet Ratings gives Bank of America a
C- grade and hold rating.
United Technologies' stock lost 1.54% Monday to $79.75.
TheStreet Ratings gives United Technologies an A- grade with a buy rating and
$92.86 price target.
The three Dow stocks that posted gains on Monday were
Exxon Mobil(XOM) and
Written by Alexandra Zendrian in New York.