US Stocks Struggle For Traction

The Dow lost more than 100 points on Monday, and the S&P 500 and Nasdaq were down roughly 0.5% each as investors grew worried about the prospects of a global recession.

Widespread protests against strict COVID-19 restrictions in several Chinese cities exacerbated concerns about the health of the world's second-largest economy while sending shockwaves through global equities markets.

On the corporate side, Apple tumbled roughly 2% after a media report said the company would face an approximately 6 million iPhone Pro production shortfall due to unrest at Foxconn's Zhengzhou plant.

US-listed Chinese companies, such as e-commerce giants Alibaba Group and JD.com, also came under pressure.

Investors now look ahead to a slew of US economic releases this week, including the November non-farm payroll report on Friday, for clues about the economy and the Federal Reserve rate path.