US markets dip from record highs

NYSE traders Image copyright Reuters

After finishing at record highs on Friday, the three major US markets fell on Monday, recording their worst performance for almost a month.

The Dow Jones Industrial Average fell 54.24 points, or 0.3%, to 19,097.90.

The broader S&P 500 index dipped 11.63 points to 2201.72, while the tech-heavy Nasdaq index fell 30.11 points to 5,368.81.

Shares in Time Inc jumped almost 16% after the New York Post reported it had rejected a takeover bid.

The newspaper said billionaire investor Edgar Bronfman Jr. had offered $18 a share for the publisher, valuing it at about $1.8bn.

Energy stocks gained as the oil price rose in volatile trade. Southwestern Energy shares rose 1.5%.