Reported 8 months ago
US stocks were mostly lower on Monday, driven by a sell-off in tech stocks led by Nvidia, which dropped 5% and is down 14% from its record high. The decline is attributed to profit-taking after a 143% year-to-date rally. Investors are now watching for PCE inflation data to be released Friday, along with other economic indicators, to gauge the strength of the US economy and speculate on the timing of the Fed's first interest rate cut of the cycle.
Source: YAHOO