New York ? With no upbeat news to cheer Wall Street on Monday, investors once again sold off stocks, sending the Nasdaq composite index to its lowest close in nearly seven months. The Dow industrials sank nearly 200 points, recording their poorest finish in nearly three months.

“There are two things at hand. No. 1, earnings stink. The second is (high) valuation,” said Gary Kaltbaum, market technician for Investors’ Edge Partners in Orlando. “Put those two together, you end up with a lethal combination and the rough-tough trading we have been seeing.”

The Dow closed down 198.59, or 2.0 percent, at 9,808.04, its lowest close since Feb. 19 when it was at 9,745.14.

The market’s other major indicators also finished with sharp losses. The Nasdaq composite index fell 34.55, or 2.1 percent, to 1,578.48, its lowest close since Oct. 9 when it stood at 1,570.19.

Analysts say the market will continue to struggle for gains until investors are assured that business is improving and that the economy is strengthening. There was no such news Monday.

EarthLink on Monday fell 87 cents to $7 after President Mike McQuary resigned for personal reasons.

Network equipment maker Cisco Systems declined 25 cents to $12.89 ahead of its fiscal third-quarter results due out Tuesday.

Oracle lost 21 cents to close at $8.22, adding to losses from Friday when Goldman Sachs and SG Cowen reduced their outlooks on the software maker.