The Dow declines by 120 points. The S&P 500 pulled back 0.15% as the industrial sector dipped 0.9%. The Composite also slipped 0.15%.

GE fell more than 6% after J.P. Morgan cut its price target on the stock to $5 from $6 a share.

Boeing dropped more than 3.5% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months.

Dow declines comes after the major stock indexes posted their second consecutive weekly gains last week, boosted by progress on the U.S.-China trade front and strong jobs data.

Wall Street expects this earnings season to be a tough one. First-quarter S&P 500 earnings are expected to have fallen 4.2% on a year-over-year basis, according to FactSet. That would be the first earnings contraction for the S&P 500 since the second quarter of 2016.

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