Dow Jones starts week lower, falls 350 points

US stocks declined at the close of Monday's session due to profit-taking after remarks from Federal Reserve Chair Jerome Powell, hinting at potential rate cut had previously fueled a rally on Wall Street late last week.

The Dow Jones Industrial Average fell by 0.77% (349 points) to 45,282, after gaining 1.53% the previous week.

The S&P 500 dropped 0.43% (27 points) to 6,439, while the Nasdaq Composite lost 0.22% (47 points) to 21,449.

In Europe, the STOXX Europe 600 fell 0.45% to 558, with most sectors and major bourses in the red.

Meanwhile, Germany's DAX dropped 0.35% to 24,273 and France’s CAC 40 slipped 1.6% to 7,843.

The London Stock Exchange was closed for a public holiday.

In Japan, the Nikkei 225 rose 0.4% to 42,807, while the broader Topix gained 0.15% to 3,105.

Brent crude futures for October delivery rose 1.6% ($1.07) to $68.80 per barrel. WTI (NYMEX) for October delivery climbed 1.8% ($1.14) to $64.80 per barrel.

Gold futures for December delivery settled flat at $3,417.50 per ounce.