Stocks Ended Sharply Lower despite Fed More Stimulus

U.S. stocks ended sharply lower on Monday, as investors looked past an aggressive Fed action to back private and municipal debt markets. The Dow Jones Industrial Average fell 582.05 points, or 3.04%, to 18,591.93. The S&P 500 shed 67.52 points, or 2.93%, to 2,237.40. The Nasdaq Composite lost 18.84 points, or 0.27%, to 6,860.67.

Oil futures finished higher on Monday, as traders eyed another round of monetary stimulus by the Federal Reserve and its potential to boost the economy and demand for energy. West Texas Intermediate crude for May delivery tacked on 73 cents, or 3.2%, to settle at $23.36 a barrel. May Brent crude added a nickel, or 0.2%, to $27.03 a barrel.