The Globe and Mail reports in its Tuesday edition that U.S. and Canadian stocks closed in negative territory on Monday in light volume in the second-to-last trading session of an eventful year in which major indexes posted strong double-digit gains. A Reuters dispatch to The Globe says that end-of-year tax positioning, valuations, climbing Treasury yields and uncertainties about 2025 all contributed to the risk-off sentiment. The broad sell-off dragged down all 11 major S&P 500 sectors on the day. "Investors are saying the S&P, even after this recent sell-off, is up over 50 per cent in the last two years," said Oliver Pursche, senior vice-president at Wealthspire Advisors, in New York. "Maybe we should take some chips off the table and protect those gains. And when you have thin volume, it doesn't take a lot [to move markets]." Despite recent weakness, 2024 has been a banner year for equities. Nasdaq is on track for about a 30-per-cent annual gain and the S&P 500 is headed for more than a 24-per-cent rise for 2024. The Dow remains up just over 13 per cent from the last closing levels of 2023. The S&P/TSX Composite Index is up nearly 18 per cent. On the day, Toronto declined 175.81 points at 24,620.59.