(Reuters) – U.S. stocks were mixed in choppy afternoon trading on Monday, with the benchmark S&P 500 paring early losses to trade flat as investors weighed the economic outcome of a spike in new coronavirus cases in China and parts of the United States.
Earlier in the day, the S&P 500 fell as much as 2.5% as it flirted with its 200-day moving average, an indicator of long-term trend.
The Dow edged lower while Nasdaq was up 0.6%, helped by Tesla Inc, Nvidia Corp and Zoom Video Communications.
“Some technical levels are causing a little bit of volatility primarily because the stock market went up as fast as it did,” said Jimmy Lee, chief executive officer of The Wealth Consulting Group, a wealth management firm based in