NASDAQ Composite Falls 0.74% to 17844.24Data Talk

The S&P 500 Index is down 36.29 points or 0.64% today to 5650.38

• Largest one-day point and percentage decline since Monday, April 21, 2025
• Snaps a nine-trading-day winning streak
• Off 8.04% from its record close of 6144.15 hit Wednesday, Feb. 19, 2025
• Off 2.29% from the Election Day close of 5782.76 on Tuesday, Nov. 5, 2024
• Off 5.77% from the Inauguration Day close of 5996.66 on Monday, Jan 20, 2025
• Off 0.36% since tariffs were announced on Wednesday, April 2, 2025
• Off 8.04% from its 52-week high of 6144.15 hit Wednesday, Feb. 19, 2025
• Up 13.40% from its 52-week low of 4982.77 hit Tuesday, April 8, 2025
• Rose 9.07% from 52 weeks ago
• Off 8.04% from its 2025 closing high of 6144.15 hit Wednesday, Feb 19, 2025
• Up 13.40% from its 2025 closing low of 4982.77 hit Tuesday, April 8, 2025
• Year-to-date it is down 231.25 points or 3.93%

Data based on preliminary market closing values

Source: Dow Jones Market Data, FactSet

The Dow Jones Industrial Average is down 98.60 points or 0.24% today to 41218.83

• Largest one-day point and percentage decline since Monday, April 21, 2025
• Snaps a nine-trading-day winning streak
• Off 8.43% from its record close of 45014.04 hit Wednesday, Dec. 4, 2024
• Off 2.38% from the Election Day close of 42221.88 on Tuesday, Nov. 5, 2024
• Off 5.22% from the Inauguration Day close of 43487.83 on Monday, Jan 20, 2025
• Off 2.38% since tariffs were announced on Wednesday, April 2, 2025
• Off 8.43% from its 52-week high of 45014.04 hit Wednesday, Dec. 4, 2024
• Up 9.49% from its 52-week low of 37645.59 hit Tuesday, April 8, 2025
• Rose 6.09% from 52 weeks ago
• Off 8.16% from its 2025 closing high of 44882.13 hit Thursday, Jan 30, 2025
• Up 9.49% from its 2025 closing low of 37645.59 hit Tuesday, April 8, 2025
• Year-to-date it is down 1325.39 points or 3.12%

Data based on preliminary market closing values

Source: Dow Jones Market Data, FactSet

The main U.S. stock indexes fall, snapping a remarkable winning streak that defied the gloomy economic forecasts unleashed last month by tariffs. The U.S. services PMI points to another month of expanding activity. Shares of Tyson Foods fall 8% as a cattle shortage eats into its profits. Big entertainment names such as Netflix, Warner Bros and Paramount fall after Trump announced tariffs on movies made overseas. The S&P 500 Communication Services sector closes slightly lower. Nasdaq is down 0.7%, at 17844; the S&P 500 loses 0.6%, to 5651; and the DJIA falls 98 points, or 0.2%, to 41219. (paulo.trevisani@wsj.com; @ptrevisani)

US stocks closed lower Monday, unable to shake earlier losses as investors weighed strong economic data against trade tensions and the upcoming Fed meeting.

The S&P 500 and Nasdaq slipped 0.6% and 0.7% respectively, snapping nine-day win streaks, while the Dow lost 98 points.

Markets reacted to President Trump threatened new tariffs, including a 100% levy on foreign films, but sentiment improved following stronger-than-expected ISM services data.

Still, uncertainty persisted after Trump said he has no plans to speak with China’s President Xi, keeping investors cautious.

Energy sector led the decline, followed by consumer discretionary and tech.

Among stocks, Netflix and Paramount each dropped over 1.5%, Berkshire Hathaway slid 5% on news Warren Buffett will step down in 2026, and ON Semiconductor sank 8.9% after issuing a mixed outlook.

Attention now turns to the Fed’s two-day policy meeting, with markets awaiting clues on interest rates and the economic outlook.

Financial stocks were lower in late Monday trading, with the NYSE Financial Index easing 0.3% and the Financial Select Sector SPDR Fund (XLF) down 0.4%.

The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) each shed about 0.1%.

Bitcoin (BTC/USD) fell 1% to $94,609, and the yield for 10-year US Treasuries rose 2.1 basis points to 4.34%.

In economic news, the Institute for Supply Management's US services index rose to 51.6 in April from 50.8 in March versus expectations for 50.3 in a Bloomberg survey.

The S&P Global US services index was revised downward to 50.8 in April from the 51.4 flash reading, compared with expectations of 51.2 in a Bloomberg survey.

In sector news, Michelle Bowman, nominated as the Federal Reserve's top bank regulator, is pushing to review confidential ratings of large US banks after criticizing last year's results that rated the banks poorly, the Wall Street Journal reported.

In corporate news, Howard Hughes will receive a $900 million investment from Pershing Square unit, Pershing Square Capital Management, the companies said Monday. Howard Hughes shares added 2.8%.

Ares Management shares rose 2.7%. The company reported Q1 after-tax realized income that topped Wall Street estimates.

Berkshire Hathaway shares fell after Warren Buffett announced over the weekend that he would step down as chief executive. The company's Class A and Class B shares dropped past 5%.

JPMorgan Chase is expected to lead $5 billion in debt financing to back 3G Capital's $9.4 billion planned acquisition of Skechers (SKX), Bloomberg reported. JPMorgan added 0.2%.

Tech stocks were lower late Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.5% and the SPDR S&P Semiconductor ETF (XSD) shedding 0.8%.

The Philadelphia Semiconductor index decreased 0.7%.

In corporate news, Alphabet's Google has partnered with Range Media Partners to launch a film and TV production initiative called 100 Zeros, Business Insider reported. Alphabet shares were adding 0.3%.

Onsemi reported a year-over-year decline in Q1 non-GAAP earnings and revenue. Its shares tumbled 9%.

Apple plans to sell investment-grade bonds Monday for the first time in two years, Bloomberg reported. Apple shares retreated 3.2%.

US Representative Bill Foster is preparing to introduce legislation requiring tracking of the location of AI chips, such as those made by Nvidia , to help prevent their illegal export to China, Reuters reported. Nvidia shares were down 0.5%.