Stocks Ended Mostly Lower after Lcahn Comments

U.S. stocks closed mostly lower on Monday after dropping to session lows following cautious
comments on equities by Carl Icahn. The Dow Jones Industrial Average rose 14.32 points, or 0.09%,
to end at 15,796.02. The S&P 500 fell 6.65 points, or 0.37%, to close at 1,791.53. The Nasdaq
Composite shed 36.90 points, or 0.93%, to finish at 3,949.07.

Activist investor Carl Icahn said on Monday he is “very cautious” on the stock market, saying he
could see a “big drop” because earnings at many companies are fuelled more by low borrowing costs
rather than the strength of management.

The minimum capital requirement the European Central Bank will set in the stress tests that are
part of its upcoming extensive check-up of euro zone banks should not go above 8 percent, a top
Bank of Italy official said on Monday.

Bitcoin touched a fresh all-time high on Monday as the digital currency continued to gain favor
with investors. The virtual currency rose to $750 on Mt.

BMW unveiled a bigger, faster and better connected version of the iconic Mini hatchback on Monday.
The German automaker said it is investing £750 million across its three U.K. manufacturing sites
to support the launch.