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US stocks retreat from record highs as fallout from Capitol riot continues

Trump rose garden sad
President Donald Trump.
  • US stocks retreated from record highs on Monday as the fallout from last week's Capitol riot continued.
  • President Donald Trump was permanently suspended from Twitter on Friday, and House Democrats are preparing to draw up articles of impeachment this week.
  • Watch major indexes update live here.

US stocks retreated from record highs on Monday as the fallout from last week's Capitol riot continued.

President Donald Trump was permanently suspended from Twitter on Friday and has been barred temporarily or permanently by a mix of other social-media platforms.

A consequence of the Capitol riot could be Trump's early removal: Congress is exploring removing the president by impeaching him or urging Vice President Mike Pence to invoke the 25th Amendment. House Democrats are planning to draw up articles of impeachment this week.

Here's where US indexes stood after the 9:30 a.m. ET open on Monday:

Read more: BANK OF AMERICA: Buy these 10 Dow stocks to take advantage of rich dividends and a long-term strategy primed for a comeback in 2021

Shares of Twitter fell as much as 10% on Monday after the social-media company permanently suspended Trump.

Bitcoin staged a more than 10% correction over the weekend that spilled over into Monday, with the crypto asset falling to the $32,000 level.

Nio soared as much as 11% on Monday after the electric-vehicle manufacturer unveiled its ET7 sedan and said it struck a partnership with Nvidia to develop autonomous-driving capabilities.

Oil prices fell. West Texas Intermediate crude dropped as much as 1.13%, to $51.65 per barrel. Brent crude, oil's international benchmark, fell 1.48%, to $55.16 per barrel, at intraday lows.

Gold fell as much as 0.10%, to $1,835.50 per ounce.

Read more: A growth-fund manager who's beaten 96% of his peers over the past 5 years shares 6 stocks he sees 'dominating their space' for the next 5 to 10 years - including 2 he thinks could grow 100%

Read the original article on Business Insider




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