The Dow Jones industrial average dropped 117 points in trading Monday to close at 17,731.

The S&P 500 declined 15 points to 2,077.

The Nasdaq slid 41 points to 5,102.

The LABJ Stock Index was down two points to 240.

Arrowhead Research Corp. was Monday’s biggest local gainer among stocks trading above $1. Shares of the company rose 13 percent to close at $6.24 after the company’s experimental hepatitis B drug, ARC-520, showed promising results when treating chimpanzees as part of a clinical trial.

Monday’s biggest loser was California Resources Corp. Shares of the company fell 19 percent to close at $2.63.