Rising swine flu cases and uncertainty over the size of the problem pushed stocks and many commodity prices lower. But Monday also saw new hope for General Motors. A massive downsizing and a stock-for-debt swap sent GM shares 20 percent higher and made for a brief but wide mid-morning rally. There wasn't any calendar data in the session but Boeing's CEO offered a new description for the downturn, calling it a "once in a lifetime" event.
The S&P 500 fell 1 percent to 857.51. The dollar was up, ending at $1.3050 against the euro while the Mexican pesos tumbled 4.1 percent to 13.9060 vs. the dollar. There was little movement in the Treasury market.
Hog prices fell steeply, down 4.2 percent on the June contract. Prices of grains and industrial metals posted less severe declines. Oil seesawed with the stock market before ending just above its central line at $50. Gold held firm at $905.