U.S. markets ended mostly lower on Monday, with the broader pullback partly driven by weakness in technology stocks. Traders remained on the sidelines ahead of the release of closely watched consumer inflation data on Wednesday. Investors turned their attention to Nvidia’s earnings report, due Wednesday, for further insight into the strength of artificial intelligence-related demand. Additionally, Federal Reserve Chair Kevin Warsh is scheduled to deliver a speech on Friday at the Fed’s annual Jackson Hole symposium, where investors were looking for further clues about the central bank’s policy outlook.
On the sectoral front, semiconductor stocks were among the weakest performers in the technology sector, with the Philadelphia Semiconductor Index falling 2.7 percent. Nvidia (NVDA) shares declined 2.9 percent ahead of the AI company’s second-quarter results, scheduled for release after Wednesday’s market close.
Nasdaq declined 200.26 points or 0.77 percent to 25,980.19 and S&P 500 decreased 21.51 points or 0.28 percent to 7,652.86, while Dow Jones Industrial Average up 140.15 points or 0.26 percent to 53,417.16.
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