Stocks wavered in afternoon trading on Wall Street Monday, after a big jump last week on hopes for interest rate cuts from the Federal Reserve .

The S&P 500 was down 0.2%, hovering around its all-time high. The Dow Jones Industrial Average fell 279 points, or 0.6% as of 2:04 p.m. Eastern time, pulling back from the record it set on Friday. The Nasdaq composite rose 0.2%.

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