Stocks led lower by banks

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NEW YORK (AP) Stocks closed lower on Monday as falling bank stocks led the S&P 500 to just its third loss in the last three weeks.

Goldman Sachs and Citigroup each said their stock trading businesses struggled in the first quarter. Goldman fell 3.8 percent while Citi shares dropped 0.1 percent.

Advanced Disposal jumped 17.9 percent after accepting a $3 billion buyout offer from Waste Management.

The S&P 500 index fell 1 point to 2,905.

The Dow Jones Industrial Average dropped 27 points, or 0.1 percent, to 26,384.

The Nasdaq fell 8 points to 7,976.

The yield on the benchmark 10-year Treasury was flat at 2.55 percent.