Stocks fall to start the week | House pushes for Trump impeachment | Bitcoin loses billions in market value

MON, JAN 11, 2021

EVENING BRIEF

AS OF MON, JAN 11, 2021 • 04:23 ET

DJIA		31008.69
		-0.29%	-89.28

S&P 500		3799.61
		-0.66%	-25.07

NASDAQ		13036.43
		-1.25%	-165.54

Most Active

DOW
NAME	LAST	CHG	%CHG
AAPL	128.98	-3.07	-2.32%
INTC	51.54	-0.11	-0.21%
CSCO	45.36	+0.30	+0.67%

S&P 500
NAME	LAST	CHG	%CHG
AAPL	128.98	-3.07	-2.32%
F	9.30	+0.30	+3.33%
GE	11.45	+0.11	+0.97%

NASDAQ
NAME	LAST	CHG	%CHG
AAPL	128.98	-3.07	-2.32%
TSLA	811.19	-68.83	-7.82%
AMD	97.25	+2.67	+2.82%

EDITOR'S NOTE

Stocks kicked off the week with a loss on Monday amid growing concerns that the recent rally to record levels may have gone too far, too fast.

The Dow Jones Industrial Average slid 89.28 points, or 0.3%. The S&P 500 dipped 0.7%, and the Nasdaq Composite pulled back by 1.3%. All three indexes were coming off a week in which they broke out to new all-time highs.

Billionaire investor Jeffrey Gundlach told CNBC's "Halftime Report" on Monday that the market's current valuations are at "extraordinarily high" levels, which are only being supported by the coronavirus stimulus measures undertaken by the Federal Reserve.

"If you go back four decades of stock market data, there are many valuation metrics that are in the top 1 percentile of overvaluation. So, the thing that's keeping it going, of course, is the Fed with rates at zero and promises to stay at zero," Gundlach said. This "allows for valuations to be record-breakingly high."

Stocks were also under pressure as tensions in Washington remained high. House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the measure sometime this week.

"You got a week of danger and the markets don't like it," CNBC's Jim Cramer said Monday on "Squawk on the Street."

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