U.S. stocks end mixed as market volatility continues

U.S. stocks finished mixed on Monday (May 16) as market volatility continued on Wall Street.

The Dow Jones Industrial Average increased 26.76 points, or 0.08 percent, to 32,223.42. The S&P 500 decreased 15.88 points, or 0.39 percent, to 4,008.01. The Nasdaq Composite Index fell 142.21 points, or 1.20 percent, to 11,662.79.

Seven of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and technology down 2.12 percent and 0.91 percent, respectively, leading the laggards. Energy rose 2.62 percent, the best-performing group.

On Monday, the markets remained volatile, seeing Wall Street's three major indexes frequently swing between gains and losses.

Investors digested the latest data to assess the shape of the economy.

The newly released New York Fed's Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 36.2 points to a negative 11.6 in May. Economists polled by The Wall Street Journal had expected the index to fall slightly to a solid 16.5 reading.

For the week ending Friday, the Dow dropped 2.1 percent, while the S&P 500 and the tech-heavy Nasdaq fell 2.4 percent and 2.8 percent, respectively, amid twin concerns of surging inflation and central bank tightening.

(Source: Xinhua)