The Dow Jones Industrial Average fell 227.7 points, or 0.79%, to 28,426.17, the S&P 500 lost 8.04 points, or 0.23%, to 3,499.97, and the Nasdaq Composite added 79.82 points, or 0.68%, to 11,775.46. MSCI's world equity index rose 5.9% in August for a fifth straight month of gains as massive monetary and fiscal stimulus outweighs concern about the outlook for a world economy battered by the coronavirus. The index hit a record of 587.77 on Monday before reversing course on the day. The pan-European STOXX 600 index lost 0.62% and MSCI's gauge of stocks across the globe shed 0.30%.
NEW YORK: A gauge of global stocks pulled back from a record high on Monday but locked in a fifth straight month of gains while the dollar remained weak as investors adjust to the policy shift outlined by Federal Reserve Chair Jerome Powell last week.
U.S. stocks were mostly lower, with the Dow Industrials and the S&P 500 in the red, while the Nasdaq rose solidly. The S&P gained more than 7% for the month to notch its best August since 1986 in what is traditionally a softer month for stock performance.
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