U.S. stocks slumped on Monday after oil prices hit their highest level in nearly a month and investors sold retail and semiconductor shares on concerns about profitability, cashing in on a recent run-up in prices, Reuters reported. Crude oil prices topped $60 a barrel for the first time since Nov. 9, fueled by expectations that cold weather in the U.S. Northeast would boost demand. High energy costs, which cut into consumer spending and corporate profits, remained a concern for investors. U.S. crude for January delivery rose 93 cents at $60.25 a barrel. The Dow Jones industrial average was down 31.54 points, or 0.29 percent, at 10,845.97. The Standard & Poor's 500 Index was down 2.50 points, or 0.20 percent, at 1,262.58. The technology-laced Nasdaq Composite Index was down 14.23 points, or 0.63 percent, at 2,259.14.
