Wall Street ended down for a third consecutive day on Monday (Tuesday morning GMT ) , as investors worried about whether the high-flying technology stocks that have " overvalued " and anticipated earnings season carefully .
The Dow Jones Industrial Average fell 166.84 points ( 1.02 percent ) to finish at 16245.87 , AFP reported .
The broad-based S & P 500 slumped 20.05 points ( 1.08 percent ) to close at 1845.04 , while the tech -heavy Nasdaq composite index fell 47.97 ( 1.16 percent) to 4079.75 .
Losses to follow the weakness since mid last week . Technology and biotech stocks have been among the most weak equities , although some equities posted gains on Monday .
" Most of the sales have been concentrated on stocks that are charming and I think investors are questioning their value , " said Peter Cardillo , chief market economist at Rockwell Global Capital .
Cardillo also linked to the loss of " a little anxiety before earnings season " .
Earnings season unofficially begins on Tuesday with Alcoa after markets closed and the report on Friday ( 11/4 ) from banking giant JPMorgan Chase and Wells Fargo .
Technology stocks fell 3.7 percent , including LinkedIn , Yahoo down 3.5 percent ) and Tesla Motors slumped 2.2 percent . Apple lost 1.6 percent and Google shrinking 0.9 percent .
But some technology and biotech stocks bounced back with Biogen rose 2.1 percent , up 0.4 percent Facebook and Netflix rose 0.2 percent .
Financials generally weakened , including Bank of America fell 2.0 percent , Wells Fargo slipped 1.8 percent and a member of the Dow , Goldman Sachs dropped 2.9 percent and American Express fell 2.9 percent .
A number of companies in the Dow recorded an increase , including technology companies IBM added 1.4 percent , Intel rose 1.2 percent and Cisco gained 0.6 percent .
Cardillo said some investors may move funds from stocks " charming " stocks to more " defensive " . IBM , Intel and Cisco all pay dividends .
Mallinckrodt based in Ireland announced it would buy a rival in the U.S. , Questcor Pharmaceuticals , approximately 5.6 billion dollars in cash and stock deal that is expected to expand the company's support in the field of specialty pharmaceuticals . Questcor jumped 18.7 percent and fell 2.5 percent Mallinckrodt .
Member of the Dow , Pfizer , slumped 3.0 percent despite reports over the weekend that his palbociclib treatment resulted in a survival rate " significantly prolonged " for patients with advanced breast cancer . However , Morgan Stanley said that the time for approval of regulators remains unclear .
Bond prices rose . The yield on 10 - year U.S. Treasuries declined to 2.70 percent from 2.73 percent on Friday ( 4/4 ) , while the 30 - year slipped to 3.56 percent from 3.59 percent . Prices and bond yields move inversely .
World oil prices fell on Monday (Tuesday morning GMT ) , after rebels agreed to reopen two of the four oil export terminal in eastern Libya blockaded , shows the country's supply will likely come back to the market .
On the New York Mercantile Exchange , oil futures contract , light sweet crude or West Texas Intermediate ( WTI ) for delivery in May closed at 100.44 U.S. dollars per barrel , down 70 cents from Friday's close ( 4/4 ) , AFP reported .
Brent North Sea crude for delivery in May fell 90 cents to settle at 105.82 dollars a barrel in London trade .
"The news of Libya ( which ) weighed on prices , " said Commerzbank analyst Carsten Fritsch .
" On the weekend , the government there agreed with the rebels that four oil terminals in the eastern part of the country that had been occupied by the rebels during the eight months now due to open in stages . "
" The two smaller terminals with a combined export capacity of 200,000 barrels per day would soon reopen . Two larger port with a capacity of 500,000 barrels per day was opened following the slowest in four weeks after further talks . "
Announcement of the deal on Sunday ( 6/4 ) to reopen the terminal Zueitina and Al - Hariga , made in Zueitina in the presence of members of government and the rebel chief Ibrahim Jodhran .
The two sides have set a target of two to four weeks for the re-opening of two other terminals under blockade in Ras Lanuf and Al - Sidra . Details of the deal were undisclosed .
Tripoli says the blockade export terminal since July has hurt Libya more than 14 billion U.S. dollars in oil revenue , cut the country's oil exports of 1.5 million barrels per day to 250,000 barrels per day .
Tan Chee Tat , investment analyst at Phillip Futures in Singapore , said Brent prices face downward pressure due to the lifting of the blockade on Libya put more supply into the oil market .
" There are many indications that negotiations are likely to reach a breakthrough , cutting prices further , " said Tan told AFP .
WTI prices lower on Monday as investors booked profits on the rise last week in response to a positive jobs report on Friday in the United States, the world's largest oil consumer .
" WTI up quite a lot over the weekend , a quick rebound back to above 100 U.S. dollars , although the rate of 101 U.S. dollars , it has led to some profit-taking that resulted in the loss today , " says Tan .
The dollar weakened against most other major currencies on Monday (Tuesday morning GMT ) , as analysts see little prospect of a tightening of U.S. monetary policy in the near future .
Around 21:00 GMT ( Tuesday at 4:00 pm ) , the euro rose to 1.3740 dollars from 1.3701 dollars on Friday ( 4/4 ) , AFP reported .
The dollar slipped to 103.09 yen from 103.25 yen Japanese currency .
The euro rose to 141.65 yen from 141.49 yen .
The dollar also weakened against the British pound and the Swiss franc .
Analysts said the U.S. jobs report for March on Friday made vulnerable to the movement of the greenback lower on Monday , especially as a quiet day for U.S. economic news .
March jobs report showed the U.S. added 192,000 jobs , approaching expectations but not good enough to push the U.S. Federal Reserve accelerate - schedule time to raise the benchmark interest rate .
Friday's report was " strong but not spectacular , " said Joe Manimbo , senior market analyst at Western Union Business Solutions .
" Until the new catalyst arrives , look for a more general trading range for the dollar and other major currencies, " said Manimbo .
Kathy Lien , director of the BK Asset Management , said the release of the U.S. Federal Reserve meeting minutes of March on Wednesday ( 9/4 ) is the only major news events this week for the dollar and is unlikely to significantly alter the view .
" While there is no key U.S. data scheduled to be released this week , the decline in yields on U.S. Treasury bonds and U.S. equities slump prevent investors to buy dollars , " said Lien .
Among other currencies , the pound rose to 1.6603 dollars from 1.6567 dollars on Friday .
The dollar slipped to 0.8878 Swiss francs from 0.8919 francs .
Gold futures on the COMEX division of the New York Mercantile Exchange fell below 1,300 dollars per ounce on Monday (Tuesday morning GMT ) , as speculative investors continue to pull away from the gold .
The most active gold contract for June delivery lost 5.2 dollars, or 0.4 percent, to close at 1298.3 U.S. dollars per ounce , Xinhua reported .
Speculative investors have trimmed their gold positions to the lowest level in six weeks .
Market analysts believe that gold has been overplayed in recent weeks , and that is why gold to quickly switch to the decline in the post- Crimean correction .
Outflows from ETFs ( exchange-traded funds ) also put pressure on gold . The data indicate that the gold ETF reported outflows of 15.3 tonnes in the last week .
Silver for May delivery slumped 3.9 cents, or 0.2 percent, to close at 19.907 dollars per ounce . Platinum for July delivery fell 23.1 dollars, or 1.59 percent, to end at 1427.8 dollars per ounce .
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