US blue chips moved lower on Monday as speculation that the Fed and ECB will soon loosen their monetary policies started to vanish. Meanwhile, investors awaited Jackson Hole symposium due to start on Friday. The Dow Jones Industrial Average Index retreated by 0.25% to close at 13,124.67. Only consumer services sector managed to rise by 0.30%. Financials were mixed, with Bank of America sliding by 1.10% and JPMorgan Chase & Co gaining 0.16%. Dragging the US blue chips index lower, basic materials and technology shares lost 0.93% and 0.77%. Alcoa and El du Pont de Nemours tumbled 1.74% and 0.79% amid weak commodity prices. Among technology companies, the biggest losses posted Hewlett-Packard and International Business Machines, declining by 2.10% and 1.05%. Telecommunications also tumbled, with AT&T and Verizon Communications sinking 0.22% and 0.95%.