U.S. stocks open lower as China COVID restrictions bite

U.S. stocks opened lower on Monday one session after the Nasdaq Composite cemented its longest win streak since November as another spate of COVID restrictions in China added to concerns about a global economic slowdown. The S&P 500 fell 26 points, or 0.7%, to 3874 at the open, while the Dow Jones Industrial Average fell 115 points, or 0.4%, to 31232. The Nasdaq Composite shed 97 points, or 0.9%, to 11538.

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