Stocks fell Monday, erasing significant gains, as investors were cautious after the recent stock advance and discounted China's move to strengthen its undervalued currency. Stocks jumped in the morning as investors welcomed China's weekend announcement it would allow its currency, the yuan, to rise against the U.S. dollar, but fell for the rest of the session. The U.S. dollar was barely changed versus the yuan and the euro on Monday and gained 0.5 percent versus the yen. Light sweet crude oil for July delivery rose 64 cents to $77.82 a barrel on the New York Mercantile Exchange. Gold fell $17.60 to $1,240.70 an ounce after closing at a record high on Friday. The Dow Jones industrial average fell 8.23, or 0.1 percent, to 10,442.41. The broader Standard & Poor's 500 index fell 4.31, or 0.4 percent, to 1,113.20. The technology-heavy Nasdaq composite index fell 20.71, or 0.9 percent, to 2,289.09, with losses led by Amazon, Yahoo, and Microsoft. Amazon shares fell after the online retailer cut the price of its Kindle electronic reader.
