(WBBM Newsradio) — Stocks closed sharply lower in volatile trading Monday, extending last week’s sell-off, with all three of the major indices finishing down nearly 4 percent for the session.
The S&P 500 lost 113, the NASDAQ fell 273 and the Dow Jones industrial average shed over 1,175 points, settling to 24,345.
“It is a market that’s struggling with this strong economy, but what that economy is going to do to interest rates and inflation, and trying to factor that into what stock prices should be right now. That’s going to be a tug-of-war that probably continues for awhile,” Chuck Carlson, CEO of Horizon Investment Services, says.
He also noted that he currently finds shares of JPMorgan (JPM), Comerica (CMA) and Zions Bancorp (ZION) attractive at current levels.