Dow drops 360 points, heads for biggest decline in 5 weeks.
Stocks gave back their earlier gains on Monday as Wall Street digested weak U.S. economic data while trade talks with China neared the finish line.
Stocks started giving back their gains after the Commerce Department said construction spending dropped 0.6 percent in December. Economists polled by Refinitiv had forecast a gain of 0.2 percent. Equities initially rose on news that a trade deal between the U.S. and China could be on the horizon. The back-and-forth on trade between the two countries has sent ripples through financial markets since last year, with investors fretting how tighter trade conditions could impact corporate profits.
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