Markets

Here's what happened to the stock market on Monday

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CNBC Markets Now: December 09, 2019

Dow Jones Industrial Average falls 105 points

The Dow slid 105.46 points, or 0.38% to end the day at 27,909.60. The S&P 500 pulled back 0.32% to 3,135.96. The Nasdaq Composite dipped 0.40% to 8,621.83. Monday's slight decline snapped a three-day winning streak for the market as Wall Street braced for a busy week.

Trade dents optimism from jobs data

The session's losses came after a massive rally on Friday that left the major indexes within striking distance of their record highs. That move up was sparked by a much better-than-expected jobs report. But the optimism around the economic data took a backseat to the ongoing U.S.-China trade talks. China Assistant Commerce Minister Ren Hongbin said Monday the country hopes to make a deal with the U.S. "as soon as possible." Those comments followed data showing China's exports dropped for a fourth straight day. However, whether a deal is struck before the Dec. 15 deadline remains uncertain.

Apple drags Dow lower

Apple shares fell 1.4% and was among the worst performers in Dow. Goldman Sachs and Boeing dipped 1.25% and 0.81%, respectively.

What happens next?

The Federal Reserve will kick off its last monetary policy meeting on Tuesday. Investors will also watch out for any news on the U.S.-Mexico-Canada trade front as the Trump administration and House Democrats get closer to replacing the current North American Free Trade Agreement. Read more here.

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