Stocks fell on Wall Street as a strong year for the market looks set to end on a sour note. The S&P 500 closed 1.1% lower Monday. On the second-to-last day of 2024, the benchmark index is still on track for its second straight yearly gain of more than 20%.

The Dow ended more than 400 points lower on Monday, clawing back some of the deepest losses from earlier in the day.

An annual ritual is underway at the major Wall Street investment houses: predicting exactly where the S&P 500 will finish the next calendar year.

Use precise geolocation data and actively scan device characteristics for identification. This is done to store and access information on a device and to provide personalised ads and content, ad and content measurement, audience insights and product development. List of Partners (vendors)

Darden Restaurants, the company behind Olive Garden and other chains, helped lift the market after leaping 15.5%. It delivered profit for the latest quarter that edged past analysts’ expectations. The operator of LongHorn Steakhouses also gave a forecast for revenue for this fiscal year that topped analysts’.