iStock/Thinkstock(NEW YORK) — Wall Street closed slightly lower Monday, but marked a third month in the red as investors fretted over the looming U.S. presidential election.
The Dow fell 18.77 (-0.10 percent) to finish at 18,142.42.
The Nasdaq gave up 0.97 (-0.02 percent) to close at 5,189.13, while the S&P 500 finished at 2,126.15, down 0.26 (-0.01 percent) from its open.
Crude oil sunk 4 percent with prices hitting over $46 a barrel.
Valeant: Shares in Valeant Pharmaceuticals sunk 12 percent on news of a reported criminal probe into the company’s former CEO and CFO. According to Bloomberg, authorities are exploring accounting fraud charges after Manhattan federal prosecutors and the FBI in New York investigated Valeant for about a year.
General Electric: General Electric revealed Monday it would be merging operations with Baker Hughes for a combined revenue of $32 billion. GE closed less than 1 percent lower and Baker Hughes’ stock sunk 6 percent.
Consumer Spending: Americans spent more money last month according to new figures from the Commerce Department. In September, consumer spending rose 0.5 percent from the previous month with income gaining 0.3 percent.
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