The Dow Jones Industrial Average decreased 328.60 points, or 1.39 percent, to 23,390.77. The S&P 500 was down 28.19 points, or 1.01 percent, to 2,761.63. The Nasdaq Composite Index increased 38.85 points, or 0.48 percent, to 8,192.42.
Caterpillar shares plunged 8.7 percent, leading the losses in the Dow.
Eight of the 11 primary S&P 500 sectors finished lower, with real estate down 4.59 percent, the worst-performing group. Consumer discretionary climbed 1.1 percent, outpacing the rest.
As of Monday afternoon, more than 572,000 COVID-19 cases have been reported in the United States, with 23,078 deaths, according to the Center for Systems Science and Engineering at Johns Hopkins University.
Wall Street also digested news concerning major oil producers' historic production cuts.
The Organization of the Petroleum Exporting Countries and other crude producers led by Russia agreed on Sunday to reduce output by 9.7 million barrels per day for May and June after four days of talks.
Monday's market movement followed a massive rally in the previous week.
For the holiday-shortened week ending April 9, the Dow spiked 12.67 percent, the Nasdaq climbed 10.59 percent, and the S&P 500 gained 12.1 percent, marking the best weekly performance since 1974, according to Dow Jones market data. The U.S. stock market was closed Friday in observance of Good Friday.
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