Wall Street gave up early gains and were lower late on Monday morning, dragged down by health stocks and as crude prices slid further ahead of the start of the corporate earnings season.

The S&P materials and energy sectors were both off more than 1 percent, under pressure as oil prices fell for the sixth day in a row. U.S. crude fell to $31.93, its lowest since 2003.

The health sector fell the most, declining 1.38 percent, dragged down by Celgene and McKesson.

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