U.S. stocks fell sharply in the opening minutes of Monday's trading on Wall Street.

The Dow Jones Industrial Average decreased 505.04 to 34,021.81 at 9:30 a.m. ET.

The Standard & Poor's 500 Index weakened 76.70 to 4,359.72.

The NASDAQ Composite Index moved lower 276.60 to 14,790.76.