NEW YORK—U.S. stocks drifted lower Monday to start what could be a quiet stretch following their best week since March.
The S&P 500 lost 8.58 points, or 0.2 percent, to 4,273.79. The Dow Jones Industrial Average fell 199.90, or 0.6 percent, to 33,562.86, while the Nasdaq composite slipped 11.34, or 0.1 percent, to 13,229.43.
The majority of stocks on Wall Street sank after a report showed growth fell short of economists’ forecasts for businesses in the construction, accommodation, and other U.S. services industries last month. It was still a fifth straight month of expansion, though.
It’s the latest mixed reading for a U.S. economy that has defied forecasts for a recession but has begun to slow under the weight of higher interest rates….