US Close 26 Jul 16: Fall in oil and weakness in biotech stocks hit US markets.

US sharemarkets fell on Monday. A lower oil price weighed on the energy sector. And other investors chose to square positions ahead of a big week for earnings results and the Federal Reserve meeting to decide interest rate settings. Shares in Yahoo fell by 2.7% after agreeing to sell its core internet business to Verizon for US$4.8 billion. The Dow Jones index fell by 78 points or 0.4% with the S&P 500 index lower by 0.3% while the Nasdaq lost 2.5 points or 0.1%.

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