By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) -- U.S. stocks opened lower on Monday,
with Wall Street retreating from five-year highs and echoing a
decline in European equities, with a report on December factory
orders ahead.
The Dow Jones Industrial Average (DJI) lost 107.35 points, or
0.8%, to 13,902.44.
The S&P 500 index (SPX) declined 19.05 points, or 0.7%, to
1,503.12, with energy falling hardest among its 10 major
sectors.
The Nasdaq Composite shed 16.57 points, or 0.5%, to
3,162.52.
Herbalife Ltd. (HLF) shares declined 11% after the New York Post
reported the Federal Trade Commission was investigating the
supplement distributor. Last month, hedge-fund manager William
Ackman said he was betting against, or shorting, its stock, calling
Herbalife a pyramid scheme.
Wal-Mart Stores Inc. (WMT) fell 1.2% after J. P. Morgan Chase
& Co. downgraded the discount retailer to neutral from
overweight.
Oracle Corp. (ORCL) fell 1% after the business-software maker
said it would acquire Acme Packet Inc. (APKT) for $1.7 billion.
Acme Packet leapt 22.8%.
For every share rising nearly three fell on the New York Stock
Exchange, where 73 million shares traded as of 9:40 a.m.
Eastern.
The dollar advanced on concerns about the political situation in
both Spain and Italy. Spanish Prime Minister Mariano Rajoy over the
weekend denied allegations that he and members of his party
accepted secret payments.
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