The US stock market ended mostly lower on Monday as investors worried about technology stocks, the Iran situation, and upcoming inflation data.
The S&P 500 fell 0.4%, showing weakness across the broader market, while the Nasdaq Composite dropped 1.3% due to large technology stocks coming under pressure.
Big technology companies were the biggest reason behind the market decline on Monday, with Alphabet shares falling 5% after investors became concerned about artificial intelligence talent leaving the company.
Amazon stock dropped 4%, adding to pressure on the broader market, while Meta Platforms shares declined 2% during the session.
Microsoft stock also fell 2%, contributing to losses in the technology sector.
SpaceX shares plunged 14% on Monday, putting the company on track for its third consecutive day of losses.
The sharp fall in SpaceX added further pressure on investor sentiment, while Iran said there had been "encouraging progress" in talks with the United States taking place in Switzerland.
Oil prices fell further after the U.S. Treasury Department allowed Iranian oil sales for the next 60 days, with Brent crude oil dropping 3.31% to close at $77.90 per barrel.
US Treasury prices fell while yields rose on Monday, according to Bloomberg, as investors reassessed inflation risks after President Trump renewed military threats toward Iran.
