U.S. stocks closed lower Monday. In international economic news, Chinese markets are closed this week due to the Lunar New Year holiday. The dollar was 0.4 percent lower against a basket of currencies. Light sweet crude oil for March delivery dropped $1.20 to $29.69 a barrel on the New York Mercantile Exchange, while gold futures added 3.47 percent to $1,197.90 an ounce. The Dow Jones industrial average lost 181, or 1.1 percent, to 16,021. The broader Standard & Poor's 500 index fell 49, or 2.65 percent, to 1,830. The technology-heavy Nasdaq composite index declined 145, or 3.3 percent, to 4,217.