U.S. stocks closed mixed Monday as oil and commodity prices plunged.

World crude oil prices plunged below 70 dollars Monday as traders expected the demand of oil may decrease amid inflation and interest rates hikes.

New York's main contract, light sweet crude for delivery in June, fell 2.63 dollars to close at 69.41 dollars a barrel.

Commodity prices plunged Monday, led by copper and silver, as investors are concerned with rising global interest rates which may curb demand that has propelled prices to records this year.

U.S. stocks fell sharply last week, pushing the Standard & Poor 's 500 Index to its biggest weekly decline since October, amid rekindled concerns that inflation will accelerate and force more interest-rate increases by the Federal Reserve.

The Nasdaq Composite Index fell 4.2 percent last week to 2243. 78, its biggest weekly drop since April 2005.

At the closing time, the Dow Jones Industrial Average was up 47. 78, or 0.42 percent, to end at 11,428.77. The Standard & Poor's 500 Index was up 3.26, or 0.25 percent, to finish at 1,294.50. The Nasdaq Composite Index was down 5.26, or 0.23 percent, to close at 2,238.52.

Source: Xinhua