( dpa ) - US stocks fell Monday for the first time in three days on speculation that financial companies will face more loan defaults, including on credit cards, as the economy slows.
JP Morgan Chase and American Express were among the biggest losers in the blue-chip Dow Jones Industrial Average. Wendy's International fell 5 per cent after the US hamburger chain said that higher costs for beef and chicken may weigh on profits.
The benchmark Standard & Poor's 500 Index fell 14.6 points, or 1.1 per cent, to 1,380.82. The blue-chip Dow Jones Industrial Average lost 108.03, or 0.9 per cent, to 12,635.16. The technology-heavy Nasdaq Composite Index declined 30.51, or 1.3 per cent, to 2,382.85.
The US dollar rose to 67.41 euro cents in New York from 67.22 on Friday. The dollar rose to 106.62 Japanese yen from 106.56.
Gold fell 4.10 dollars to 909.40 dollars per fine ounce.
