(CNBC) — U.S. stocks closed lower in light volume trade Monday, with energy stocks weighing as oil prices briefly hit their lowest in nearly three months.
Chevron, Exxon Mobil and UnitedHealth contributed the most to declines in the Dow Jones industrial average, which briefly fell 100 points. The Dow is up about 3 percent for the month so far.
"I think everyone is really waiting for a big week — big week for earnings, big week for monetary policy," said Jeremy Klein, chief market strategist at FBN Securities.
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"Crude is continuing to get sold and no one's talking about it," he said.