Stocks Closed Lower on Cyprus Concerns

U.S. stocks fell on Monday but pulled off their session lows as the near-financial collapse of Cyprus left investors worried.  The Dow Jones Industrial Average shed 64.28 points, or 0.44%, to 14,447.75. The S&P 500 index declined 5.20 points, or 0.33%, to 1,551.69. The Nasdaq Composite retreated 9.70 points, or 0.30%, to 3,235.30.

Federal Reserve Chairman Ben Bernanke on Monday defended the central bank’s aggressive easing of monetary policy, saying while it was aimed at bolstering the economic recovery, it was helping other countries as well.

Regulators approved Nasdaq OMX Group’s $62 million compensation plan for firms that lost money in Facebook Inc’s glitch-ridden market debut, a victory for the exchange operator that also set the stage for potential lawsuits from firms seeking more.