Stocks close broadly lower on Wall Street; trade in focus

UNITED STATES - Stocks closed modestly lower on Wall Street on Monday as losses in technology, health care and financial companies outweighed gains elsewhere in the market.

"With the deadline being Sunday, most people don't think that new tariffs will be put in place, but they also don't expect a phase 1 to be signed this week," said Sam Stovall, chief investment strategist at CFRA. Technology sector stocks, which have been particularly sensitive to developments on trade because many of the companies rely on China for sales and supply chains, helped drag the market lower Monday. Apple fell 1.4% and chipmaker Micron Technology slid 3.1%.

In other deal news, health insurer United HealthGroup said it is buying Diplomat Pharmacy to help bolster its pharmacy benefits unit, OptimRx. The deal is being made at a steep discount, which sent Diplomat's stock plunging 32.7%. UnitedHealth dropped 0.9%.

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