Stocks Tumbled at Close, Oil Fell

U.S. stocks ended sharply lower on Monday on report that US could impose more tariffs on China. The Dow Jones Industrial Average lost 245.39 points, or 0.99%, to 24,442.92. The S&P 500 fell 17.44 points, or 0.66%, to 2,641.25. The Nasdaq Composite slipped 116.92 points, or 1.63%, to 7,050.29.

Oil futures finished lower Monday, as investors pondered whether Saudi Arabia and its oil-producing allies will be able to offset global supply losses anticipated from Iran when those sanctions begin next week. West Texas Intermediate crude for December delivery lost 55 cents, or 0.8%, to settle at $67.04 a barrel. December Brent crude fell 28 cents, or 0.4%, to $77.34 a barrel.

The US is said to be considering imposing tariffs on all remaining Chinese imports if discussions between President Donald Trump and Xi Jinping go poorly, according to reports from Bloomberg citing people familiar with the matter.