(CNBC) — U.S. stocks fell from record levels on Monday as a decline in General Electric shares weighed on investor sentiment. Wall Street was also gearing up for the busiest week of the earnings season.
The Dow Jones industrial average closed 54.67 points lower at 23,273.96, as General Electric shares fell 6.3 percent, marking their biggest one-day decline since August 2011.
The company reported earnings which fell short of analysts' expectations as profits were undermined by restructuring and weak performance at its oil and gas businesses. Analysts also panicked on Monday over the possibility GE may have to cut its dividend.
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