S&P 500 Sinks as Fresh AI Worries Hit Financials; Nvidia Gains

US stocks tumbled on Monday as fresh concerns about the impact of artificial intelligence hit financial and software companies, while President Donald Trump’s move to impose a new, across-the-board levy on US imports sowed confusion around global trade. Shares of Nvidia Corp. gained ahead of Wednesday’s earnings report.

The S&P 500 Index fell 1%, led by losses in the financial and consumer discretionary sectors. Financials shed 3.3%, the most since April 4. Consumer staples and health care ended in the green. The Nasdaq 100 Index declined 1.2%.