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The Dow and S&P 500 has fallen after last week’s strong gains as US companies prepared to kick off a quarterly earnings season expected to be rough due to the coronavirus pandemic while Amazon.com gains helped the Nasdaq end higher.

The Nasdaq registered its first three-day streak of gains since February 12.

The S&P banking subsector fell, with JPMorgan Chase & Co and Wells Fargo & Co set to report on Tuesday and analysts expecting a bleak outlook for the year.

Volume was lighter than usual with European and other markets still closed following Easter Sunday but investors “also are facing another phase for the market, and that is the earnings season,” said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.

The Dow Jones Industrial Average fell 328.6 points, or 1.39 per cent, to 23,390.77, the S&P 500 lost 28.19 points, or 1.01 per cent, to 2,761.63 and the Nasdaq Composite added 38.85 points, or 0.48 per cent, to 8,192.43.