Major United States equity benchmarks closed lower on Monday (Tuesday AEDT), with continued weakness in prominent artificial intelligence stocks weighing on broader market sentiment as investors positioned for a heavy slate of delayed economic data and closely followed policymakers’ commentary for signals on the interest rate outlook.
The Dow Jones Industrial Average slipped 41.5 points, or 0.1%, to finish at 48,416.6. The S&P 500 fell 10.9 points, or 0.2%, to 6,816.5, while the technology-heavy Nasdaq Composite declined 137.8 points, or 0.6%, to 23,057.4.
Pressure on AI-linked names remained a key drag on the market. Shares of Broadcom shed 5.6%, while Oracle fell 2.7%, extending losses after both stocks were among those that led a rotation away from AI-related trades last week.
Other major technology names also finished lower, with AMD and Apple down 1.5% apiece, Alphabet slipping 0.4%, and Microsoft losng 0.8%.
However, Tesla shares rose 3.6% after chief executive Elon Musk said the electric vehicle maker was testing its robotaxi service without safety monitors in the front passenger seat.
In company news, ServiceNow shares tanked 11.5% following a report that the software group is in advanced talks to acquire cybersecurity startup Armis, raising concerns among investors about deal size and valuation.
Meanwhile, iRobot cratered 72.7% after the Roomba vacuum-cleaner maker filed for bankruptcy.
The latest session followed a mixed performance last week, when the S&P 500 and Nasdaq both ended lower, while the Dow gained ground.
Attention is now turning to a series of U.S. economic data releases that could shape market direction in the days ahead.
November nonfarm payrolls figures are scheduled for release on Tuesday, alongside October retail sales data. Both reports were delayed following the U.S. government shutdown earlier in the autumn.
Market expectations point to a gain of around 40,000 jobs in November, a sharp slowdown from the 119,000 positions added in September, potentially reinforcing the narrative of a cooling labour market.
Later in the week, investors will also assess the November consumer price index, due for release on Thursday, for further insight into inflation trends.
On the bond markets, U.S. Treasury yields edged lower. The 10-year yield fell 0.1% to 4.182%, while the 2-year yield declined 0.5% to 3.508%.
