Tech Stocks Pull Down S&P 500 and Nasdaq
Technology shares pulled the S&P 500 and Nasdaq lower as investors assessed potential Iran sanctions and awaited upcoming Nvidia earnings. Meanwhile, Treasury yields held above five percent amid growing market focus on inflation data and Federal Reserve policy.
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Tech stocks dragged down the United States benchmarks on Monday, with the S&P 500 losing 21.51 points to 7,652.86 and the Nasdaq Composite falling 200.26 points to 25,980.19. The downturn arrived as investors weighed new economic pressure against Iran alongside political headwinds facing artificial intelligence infrastructure. Meanwhile, the Dow Jones Industrial Average gained 140.15 points to 53,417.16.
