(CNBC) -- Stocks fell sharply Monday, retreating after back-to-back weekly gains, as a historic decline in U.S. crude prices raised concerns about the economic damage being done by coronavirus shutdowns. A delay in funding the for the depleted small business rescue loan program also weighed on sentiment.
The Dow Jones Industrial Average closed 592.05 points lower, or 2.5%, 23,650.44. The S&P 500 slid 1.8% to 2,823.16. The Nasdaq Composite pulled back 1% to 8,560.73. (Click here for the latest market news.)
Boeing fell more than 6% to lead the Dow lower while Chevron and Exxon Mobil dropped more than 4% each. Energy, real estate and utilities were the worst-performing sectors in the S&P 500, falling more than 3% each.
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