Wall Street drifted through a quiet day of trading as AI stocks trimmed some of their sharp recent losses.
The S&P 500 fell 0.2 percent Monday, coming off just its third losing week since the end of March. The Dow Jones Industrial Average dropped 0.6 percent, and the Nasdaq composite was nearly unchanged after slipping less than 0.1 percent.
Stocks like Nvidia and Sandisk steadied after tumbling last week on worries that their prices had shot too high. But the broad market also felt pressure from rising yields in the bond market, which continue to climb with oil prices.
On Monday:
The S&P 500 fell 14.41 points, or 0.2 percent, to 7,443.28.
The Dow Jones Industrial Average fell 307.16 points, or 0.6 percent, to 51,839.26.
The Nasdaq composite fell 12.17 points, or less than 0.1 percent, to 25,508.07.
The Russell 2000 index of smaller companies fell 19.79 points, or 0.7 percent, to 2,942.43.
For the year:
The S&P 500 is up 597.78 points, or 8.7 percent.
The Dow is up 3,775.97 points, or 7.9 percent.
The Nasdaq is up 2,266.08 points, or 9.7 percent.
The Russell 2000 is up 460.52 points, or 18.6 percent.
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