NEW YORK, Aug. 13 (Xinhua) -- U.S. stocks closed lower on Monday as Turkey's financial crisis continued to rattle the market.
The Dow Jones Industrial Average plunged 125.44 points, or 0.50 percent, to 25,187.70. The S&P 500 decreased 11.35 points, or 0.40 percent, to 2,821.93. The Nasdaq Composite Index was down 19.40 points, or 0.25 percent, to 7,819.71.
The Dow's triple-digit losses were led by the decline of some major U.S. financial stocks.
Shares of JP Morgan Chase and Goldman Sachs Group fell 1.59 percent and 1.20 percent, respectively, at market closing.
Both the Dow and S&P 500 posted four-day losing streaks. The losses of the tech-heavy Nasdaq were somewhat capped by the rising of Apple and Amazon stocks. Shares of both companies closed more than 0.5 percent higher.
Concerns over the Turkish economic turmoil and possible global contagion continued to weigh on the market.
The Turkish currency plunged 20 percent against the U.S. dollar after U.S. President Donald Trump on Friday authorized the doubling of tariffs on steel and aluminum products from Turkey. Enditem
