US markets ended mostly in red on Monday dragged lower by fall in the megacap technology stocks including Alphabet. Investors also looked ahead to key inflation data due to be released Thursday and weighed the latest developments in the U.S.-Iran war negotiations. However, losses remain capped as traders took support with US Vice-President J.D. Vance said his lengthy talks with senior Iranian officials in Switzerland created a ‘good foundation for a successful final deal’ as they seek a permanent end to the war that the U.S. and Israel began in late February. On the sectoral front, substantial weakness was visible among retail stocks, as reflected by the 2.9 percent plunge by the Dow Jones U.S. Retail Index. The index tumbled to its lowest closing level in well over two months. Gold stocks also saw considerable weakness amid a steep drop by the price of the precious metal, while banking and pharmaceutical stocks turned in strong performances.
Nasdaq decreased 351.33 points or 1.33 percent to 26,166.60 and S&P 500 was down 27.79 points or 0.37 percent to 7,472.79, while Dow Jones Industrial Average rose 148.01 points or 0.29 percent to 51,712.71.
About The Author
