Major stock indices on Wall Street edged lower on Monday, led by declines in technology shares, as investors turned cautious after last week’s strong rally and ahead of the year-end holiday lull.
At 11:13 a.m. ET, the Dow Jones Industrial Average was down 217.14 points, or 0.45 percent, at 48,493.83. The S&P 500 slipped 28.77 points, or 0.42 percent, to 6,901.26, while the Nasdaq Composite declined 150.02 points, or 0.63 percent, to 23,443.07.
Markets opened lower, with losses deepening through the session amid renewed volatility, even as optimism persists that the rally in technology stocks could extend into 2026. With only three trading days left in 2025, trading volumes remained thin, and U.S. markets are set to remain closed on Thursday for New Year’s Day.
So far this year, the S&P 500 has gained more than 17 percent, reflecting strong equity performance despite intermittent bouts of volatility.
Sectoral and stock moves
Among the S&P 500 sectoral indices, six of the 11 sectors were trading higher. Energy stocks rose 0.7 percent, supported by a jump in oil prices. However, information technology slipped 0.7 percent, as several AI and large-cap tech stocks saw profit booking.
The materials sector also fell 0.7 percent, weighed down by losses in metal mining stocks after silver prices retreated sharply from record highs.
Among individual stocks, Nvidia fell 2 percent, Palantir Technologies declined 1.4 percent, and Broadcom slipped 1.3 percent. Tesla shares dropped 2.2 percent after touching a record high last week.
In contrast, DigitalBridge surged 9.8 percent after Japan’s SoftBank Group announced plans to acquire the digital infrastructure investor in a deal valued at $4 billion. Exxon Mobil shares gained 0.9 percent, tracking higher crude oil prices.
Bonds and commodities
In the bond market, U.S. Treasury yields edged lower, with the 10-year yield slipping to 4.12 percent from 4.13 percent late on Friday.
Precious metals witnessed sharp profit booking. Spot gold fell 3.6 percent to $4,367.97 an ounce, retreating from a record high of $4,549.71 hit last week. U.S. gold futures for February delivery also dropped 3.6 percent to $4,387.40. Gold has surged about 65 percent in 2025, supported by geopolitical tensions, a weaker dollar, and safe-haven demand.
Silver plunged 7.9 percent to $72.87 an ounce, pulling back from a record $83.62 hit earlier in the session. Platinum tumbled 12 percent, while spot palladium slid 15 percent.
Oil prices rise
Meanwhile, oil prices advanced, driven by concerns over potential supply disruptions in the Middle East and geopolitical tensions involving Russia and Ukraine. Brent crude futures rose 2 percent to $61.86 a barrel, while U.S. West Texas Intermediate crude climbed 2.3 percent to $58.03.
Market participants remain cautious as the year draws to a close, with volatility expected to persist amid low liquidity and global geopolitical uncertainties.
