Stocks Closed Lower on Clinton-Trump Debate

U.S. stocks closed lower on Monday, as traders brace for the first presidential debate tonight between Hillary Clinton and Donald Trump. The Dow Jones Industrial Average dropped 166.62 points, or 0.1%, to 18,094.83. The S&P 500 shed 18.59 points, or 0.86%, to 2,146.10. The Nasdaq Composite fell 48.26 points, or 0.91%, to 5,257.49.

New U.S. single-family home sales posted their biggest decline in nearly a year in August after soaring to nine-year highs the month before. The Commerce Department said on Monday new home sales fell 7.6 percent to a seasonally adjusted annual rate of 609,000 units last month. Sales were up 20.6 percent from a year ago.

Deutsche Bank AB is pushing back against the U.S. Justice Department’s demand that it pay $14 billion to settle high- profile probes into its packaging of mortgages in the run-up to the financial crisis.

Crude-oil futures rebounded Monday, tacking on more than 3%, as traders placed their latest wagers on the possibility that major producers will make progress this week on a pact to limit production. November West Texas Intermediate crude climbed $1.45, or 3.3%, to settle at $45.93 a barrel. November Brent crude rose $1.46, or 3.2%, to $47.35 a barrel.