The U.S. stock market was in positive territory much of Monday until it took a negative turn Monday afternoon and finished in the red. The Dow Jones Industrial Average lost 23 points, or 0.2 percent, to 12,198 points. The Nasdaq Composite index fell 0.5 percent, or 12.4 points. The S&P 500 Index shed 0.3 percent, or 3.6 points.
Monday saw the lightest trading volume of the year as investors closed out positions prior to the end of the quarter. The U.S. Department of Commerce said that February consumer spending rose more than expected, and pending home sales also increased more than forecast. The telecom industry rallied as both Verizon and AT&T received an upgrade from analysts from Baird.
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