The Dow Jones Industrial Average fell 97.31 points, or 0.28 percent, to 34,838.16. The S&P 500 was down 8.10 points, or 0.18 percent, to 4,387.16. The Nasdaq Composite Index increased 8.39 points, or 0.06 percent, to 14,681.07. Earlier in the session, all the three major indexes traded higher with the 30-stock index up more than 200 points.
Seven of the 11 primary S&P 500 sectors ended in red, with materials down 1.17 percent, leading the laggards. Utilities rose 0.75 percent, the best-performing group.
U.S.-listed Chinese companies traded mostly higher with eight of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.
The U.S. manufacturing sector saw slower growth in July, as companies and suppliers continued to struggle to meet increasing levels of demand, the Institute for Supply Management (ISM) reported Monday.
The Purchasing Managers' Index (PMI) stood at 59.5 percent, down 1.1 percentage points from the June reading. The reading fell short of market estimates. A reading above 50 percent indicates the manufacturing sector is generally expanding.
Investors continued to eye a resurgence of COVID-19 infections.
The United States registered over 100,000 daily COVID-19 cases on Friday, the highest record since early February this year. The new figure brought the seven-day average daily increase of cases to 72,493, also the highest since mid-February.
For the week ending July 30, the Dow and the S&P 500 both fell 0.4 percent, while the tech-heavy Nasdaq Composite slid 1.1 percent, amid concerns over inflation.
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