Stocks Opened Lower as Tech Stocks Sank

U.S. stocks opened lower on Monday with the tech stocks came under pressure. The Dow Jones Industrial Average lately lost 165.19 points, or 0.53%, to 30,932.78. The S&P 500 was down 28.76 points, or 0.75%, to 3,795.92. The Nasdaq Composite fell 165.87 points, or 1.26%, to 13,036.11.

Oil futures pulled back Monday, feeling pressure as the U.S. dollar continued its bounce off a more than 2 1/2-year low and as renewed COVID-19 lockdowns underscored demand worries. West Texas Intermediate crude for February delivery fell 35 cents, or 0.7%, to $51.89 a barrel. March Brent crude dropped 64 cents, or 1.1%, to $55.35 a barrel.

Office supplies retailer Staples on Monday said it made an offer to buy Office Depot owner ODP Corp for $2.1 billion in cash, nearly five years after its second takeover effort was rejected.