U.S. stocks decline amid Fischer's speech

U.S. stocks ended mildly lower Monday, as investors digested remarks from the U.S. Federal Reserve Vice Chairman Stanley Fischer.

The Dow Jones Industrial Average fell 51.98 points, or 0.29 percent, to 18,086.40. The S&P 500 lost 6.48 points, or 0.30 percent, to 2,126.50. The Nasdaq Composite Index was down 14.34 points, or 0.27 percent, to 5,199.82.

In a speech at the Economic Club of New York on Monday, Fischer suggested that low rates can lead to longer and deeper recessions, making the economy more vulnerable.

He added they can also threaten financial stability, although the evidence so far doesn't show a heightened threat of instability.

In corporate news, Bank of America on Monday reported quarterly net income of 5.0 billion U.S. dollars, or 41 cents per diluted share, beating analysts' estimates.

Shares of the giant commercial inched up 0.31 percent to 16.05 dollars apiece Monday.

On the economic front, U.S. industrial production edged up 0.1 percent in September after falling 0.5 percent in August, announced the Federal Reserve Monday.

"The small rise in September industrial production suggests there is some stability, particularly in the manufacturing and mining sectors, heading into the final quarter of the year," said Sophia Kearney-Lederman, an economic analyst at FTN Financial, in a note. Enditem