(CNBC) — U.S. stocks closed down on Monday despite encouraging economic data as the Hong Kong protests weighed on global markets.
"It seems we're willing to ignore what is going on domestically and pay attention to the global macro newsflow," Art Hogan, chief market strategist at Wunderlich Securities, said.
Energy led declines on the S&P and Dow Jones Industrial Average, with Exxon Mobil and Chevron the hardest hit.
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The Dow and S&P regained ground after falling about 1 percent in the open. In late-morning trade, the Nasdaq also reversed losses to turn positive briefly before trading in the red again.