Dow Drops Amid Tech Losses and Rising Oil Prices

The Dow Jones Industrial Average (.DJI) saw a decline of 374.09 points (0.7%) to close at 53,185.90 on Monday, August 31st.

This drop was largely attributed to losses in tech stocks, including Amazon (AMZN.US), which fell 2.5% due to the U.S. government's lawsuit over alleged price manipulation of advertising prices.

Marvell Technology (MRVL.US) shed 2.3% for a third consecutive session following last week's poorly received quarterly results.

The Nasdaq Composite and S&P 500 also fell on Monday, with the Nasdaq down 0.63% and the S&P 500 losing 25.62 ticks (0.3%) to 7,686.14.