Energy Leads Dow to Triple Digit Loss, Nasdaq Gives Up Gains

A sell-off on Wall Street with the blue chips down triple digits. The Nasdaq closed in the red despite trading in positive territory earlier in the day. Energy stocks got slammed. Chevron (CVX) and Exxon Mobil (XOM) pulled back on sliding oil. Crude prices continued to drop settling at a five-year low. Futures for January delivery fell 4.2% to settle at $63.05 a barrel. McDonald's (MCD) took the biggest bite out of the Dow Jones Industrial. Shares fell more than 3.5% after reporting weaker than expected November sales. Cubist Pharmaceuticals (CBST) was a big winner in Monday's trading. The stock gained more than 35% after agreeing to be bought by drug giant Merck (MRK). Airlines were another bright spot. The sector continues to rise on falling oil prices. Southwest (LUV) soared even higher after an upgrade from Goldman Sachs (GS).