U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 100 points on Monday.
The Dow traded down 1.04% to 38,253.72 while the NASDAQ fell 0.86% to 15,493.97. The S&P 500 also fell, dropping, 0.70% to 4,923.81.
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Leading and Lagging Sectors
Health care shares rose by 0.4% on Monday.
In trading on Monday, materials shares fell by 2.6%.
Top Headline
The ISM services PMI for the US rose to 53.4 in January versus 50.5 in the prior month, and topping market estimates of 52.
Equities Trading UP
Everbridge, Inc. (NASDAQ: EVBG) shares shot up 18% to $28.12 after the company announced it will be acquired by Thoma Bravo for $1.5 billion.
Shares of 4D Molecular Therapeutics, Inc. (NASDAQ: FDMT) got a boost, surging 73% to $30.30 after the company announced interim data from the Phase 2 PRISM clinical trial evaluating intravitreal 4D-150 in wet AMD patients with severe disease activity and a high treatment burden.
Chenghe Acquisition Co. (NASDAQ: CHEA) shares were also up, gaining 63% to $8.97 after shareholders on Friday voted to approve …