(CNBC) -- Stocks fell sharply on Monday after weaker-than-expected quarterly earnings and guidance from Caterpillar, as well as a big revenue forecast cut from chipmaker Nvidia, stoked fears about the Chinese economy slowing.
The Dow Jones Industrial Average fell 208.98 points to 24,528.22 as Caterpillar lagged. The S&P 500 dropped 0.8 percent to 2,643.85, led lower by the tech, communications services and health care sectors. The Nasdaq Composite declined 1.1 percent to close at 7,085.68 as Microsoft, Apple, Amazon and Facebook all fell at least 0.9 percent.
Monday’s decline came after the Dow and Nasdaq notched their fifth straight weekly gain last week. The major indexes have been climbing back since a December plunge that culminated in a sharp decline on Christmas Eve. In that time, the major indexes have jumped at least 12 percent.
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