U.S. stocks closed lower on Monday as markets were rocked by the brief uprising of Wagner, a Russian mercenary force. The Dow Jones Industrial Average fell around 11 points or less than 0.1%, ending near 33,715, after relinquishing earlier gains in the final moments of trade. The S&P 500 index also fell by 0.4%, while the Nasdaq Composite Index closed down 1.2%.
Stocks have been struggling to maintain a recent rally that had been driven by a handful of technology stocks. In June, these stocks had lifted major indexes to their highest levels in over a year. However, investors were once again on edge after the weekend’s short-lived mutiny in Russia.
The failed coup raised concerns about potential disruptions to global oil supplies, leading oil markets to experience uncertainty. With West Texas Intermediate oil for August ending slightly below $70 per barrel, investors are watching oil prices closely as potential risks to the global oil supply chain could have a significant impact on market health.
As uncertainty lingers, it remains important for investors to remain vigilant and informed of any developments that may impact the market in the future.