Indexes Come off Morning Lows

The Dow Jones Industrial Average fell Monday, continuing an April market selloff that has pushed the index lower for four straight weeks.

The 30-stock index lost another 330.78 points, or 1%, to 33,480.62, off its lows of the morning.

The S&P 500 skidded 46.41 points, or 1.1% to 4,225.37

The NASDAQ Composite was still in the red 8.11 points to 12,831.44.

Energy shares retreated, comprising the worst-performing S&P 500 sector Monday. Chevron fell more than 3% and Exxon Mobil lost more than 5%.

Some technology shares were a bright spot in the market, rising as interest rates fell. Google-parent Alphabet shares nearly 2% and Microsoft was marginally higher.

Investors are watching Twitter as well, which reportedly is re-examining Elon Musk’s takeover bid. The social media company is nearing a deal to sell itself to the billionaire investor, The New York Times reported, citing unnamed sources. Twitter shares were more than 3% higher.

Coca-Cola shares were marginally higher after the company reported better-than-expected quarterly earnings before the bell Monday.

About 160 companies in the S&P 500 are expected to report earnings this week, and all eyes will be on reports from mega-cap tech names, including Amazon, Apple, Alphabet, Meta Platforms and Microsoft.

Fear about a global economic slowdown loomed as Asian stock markets cratered Monday amid concerns about COVID case spikes in China.

Oil prices declined and yields retreated on the fears.

Treasury prices slouched, springing yields up to 2.78% from Friday’s 2.9%. Treasury prices and yields move in opposite directions.

Oil prices subtracted $5.35 at $96.32 U.S. a barrel.

Gold prices dipped $33.70 to $1,900.60 U.S. an ounce.