"There is some apprehension as to whether or not the Fed is actually going to put something in place based on the jobs report we saw on Friday"
- Peter Kenny, managing director at Knight Capital
U.S. stocks turned lower Monday, after the Standard & Poor's 500 Index jumped to the highest level since 2008 last week and as Chinese fundamentals deteriorated, increasing worries over a slowing global economy.
The Standard & Poor's 500 fell 0.61 per cent to 1,429.08. The Dow Jones Industrial Average edged lower 0.39 per cent to 13,254.29. The Nasdaq Composite lost 1.03 per cent to 3,104.02.
"There is some apprehension as to whether or not the Fed is actually going to put something in place based on the jobs report we saw on Friday, so that has people - in general terms - on hold until they see something they can act on," said Peter Kenny, managing director at Knight Capital.
"That being said, we had a pop last week we haven't really given up on yet and the principal reason is because people, in the back of their minds, still feel as though there is going to be some move taken by the Fed to support the lagging numbers."
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