US stock indexes head lower in afternoon trading; oil slides
Energy and industrial companies led U.S. stock indexes lower in afternoon trading Monday as investors pored over the latest crop of company earnings and deal news.
Real estate and phone company stocks rose as bond yields fell.
Traders also had their eye on Washington as President Donald Trump reaffirmed plans to slash regulations on businesses and tax foreign goods entering the country.
At a White House meeting early Monday with business leaders, Trump repeated a campaign promise to cut regulations by at least 75 percent.
Aetna fell 2.2 percent after a federal judge rejected the health insurer's plan to buy rival Humana for about $34 billion.
McDonald's was down 0.6 percent after the world's biggest hamburger chain reported a fourth-quarter drop in sales at established U.S. locations.
Kate Spade climbed 3.3 percent after Bloomberg News reported that the handbag maker has attracted takeover interest from Coach, Michael Kors and international companies.
Sprint gained 3.2 percent on news the mobile phone carrier is buying a 33 percent stake in Tidal, the music streaming service owned by artists including Jay-Z.
Yields have generally been climbing since Election Day on expectations that President-elect Donald Trump's policies will spur more inflation and economic growth.