S&P 500 Slumps to Snap Streak Above 50-DMA as Big Tech Slides
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks posted their third straight session of losses on Monday, breaching a key technical level at the start of a packed week that will include earnings results from artificial-intelligence darling Nvidia Corp. and the release of long-delayed economic data.
The S&P 500 Index dropped 0.9% to trade below 6,700, ending a 10-week streak of winning Mondays. The benchmark snapped 138 sessions during which it held above its 50-day moving average — its second-longest stretch this century, data compiled by Bloomberg show. The slump was broad-based: More than 400 stocks dropping in the index while less than 100 shares rose.