(CNBC) -- U.S. stocks gave up early gains and turned negative for the session on Monday as concerns about Covid variants and peaking economic growth weighed against strong earnings results.
The Dow Jones Industrial Average fell more than 50 points and S&P 500 slipped about 0.1%, while the Nasdaq Composite clung to a gain of less than 0.2%. The S&P 500 and the Dow rose in early trading, threatening to hit new all-time highs, before losing steam.
Monday’s tepid performance for stocks came as Treasury yields and oil prices dipped, signaling that some investors may be concerned about economic growth even as earnings results show strength.
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