Investing.com -- U.S. stocks fell mildly on Monday extending losses from late last week, as crashing energy prices and soft inflation data weighed on all three major indices.
Days after the Organization of Petroleum Exporting Countries (OPEC) announced a surging supply build for the month of July, U.S. crude futures on Monday plunged 4% to fall to a six-month low. The latest nosedive in energy prices prompted investors to question how long it will take crude prices to stabilize amid an extended downturn. Since peaking above $60 a barrel in early-June, crude futures are now down by more than 27%.
Heavy losses among energy stocks and Apple Inc (NASDAQ:AAPL) pushed the Dow Jones Industrial Average and the NASDAQ Composite Index lower, while the S&P 500 Composite index also extended previous losses to retreat from near-record territory. The Dow lost 91.66 or 0.52% to 17,598.20 on Monday, while the NASDAQ dipped 12.90 or 0.25% to close at 5,115.38.
The S&P 500, meanwhile, dropped 5.80 or 0.28% to 2,098.04, as seven of 10 sectors closed in the red. For the session, energy stocks lagged plunging more than 2%.
The top performer on the Dow was Coca-Cola Company (NYSE:KO), which gained 0.37 or 0.90% to 41.45, as its namesake bottler in Western Europe continued to engage in talks to merge with German and Iberian bottling companies. Chevron Corporation (NYSE:CVX) continued its slide on Monday, finishing as the Dow's worst performer, after falling more than 3% to 85.53. Chevron also finished as the worst performer on Friday, as falling profits from the decline in crude prices dented its earnings last quarter.
The biggest gainer on the NASDAQ was Autodesk Inc (NASDAQ:ADSK), which rose 2.50 or 4.94% to 53.08 after the Silicon Valley-based software developer announced plans to launch its Stingray video game engine later this month. The worst performer on the NASDAQ was Staples Inc (NASDAQ:SPLS), which fell 0.60 or 4.08 to 14.11.
On the S&P 500, Frontier Communications (NASDAQ:FTR) b added 0.45 or 9.43% to 5.17, finishing the session as Monday's top performer. Tyson Foods Inc (NYSE:TSN) ended the day as the worst performer after cutting its profit forecasts for the year, amid high cattle costs and the effects of the avian flu on several of its Midwestern factories earlier this year. Shares in Tyson Foods plummeted 4.50 or 10.15% to 39.85.
Elsewhere, shares in Peabody Energy Corporation (NYSE:BTU) crashed nearly 10% after U.S. president Barack Obama unveiled a comprehensive Clean Power Plan at the White House on Monday. The landmark initiative includes a proposal to cut carbon dioxide emissions up to 32% by 2030 from their levels in 2005. Coal companies nationwide produce roughly one-third of carbon emissions.
On the New York Stock Exchange, declining issues outnumbered advancing ones by a 1,889 to 1,241 margin.