NEW YORK: US stocks were sharply lower at midday Monday, with analysts pointing to profit-taking and uncertainty about Georgia Senate runoffs that could flip the chamber to Democratic control.

Near 1710 GMT, the Dow Jones Industrial Average was down 2.0 percent at 29,992.32.

The broad-based S&P 500 also shed 2.0 percent to 3,680.75, while the tech-rich Nasdaq Composite Index lost 2.1 percent to hit 12,624.36.