Wall Street kicked off the new week on a sour note Monday, with all major indices closing in the red as a sharp rotation out of technology names pressured the broader market. The Nasdaq led the declines, shedding 1.90% to close at 25,836.16, while the S&P 500 slipped 0.77% to 7,499.19 — a notable dip below the psychologically significant 7,500 level.
The Dow Jones Industrial Average held up comparatively better, falling just 0.25% to 52,116.58, buoyed in part by strength in financial names. The Russell 2000 small-cap index declined 0.85% to 2,923.06, signaling that the risk-off tone extended well beyond mega-cap tech.
Nvidia was the session's most visible casualty, dropping 3.52% to $203.53, dragging the semiconductor and AI trade lower with it. The move reflected a broader reassessment of stretched valuations in the AI infrastructure space that has dominated market narratives for months.
Gold continued to assert itself as a safe-haven destination, holding above $4,009.06 per ounce — a level that underscores persistent macro uncertainty. Visa stood out as a rare bright spot, climbing 2.52% to $357.75 as investors sought shelter in steady, cash-flow-generating businesses outside the tech complex.