Major US Indices Plummet on Monday
US stock markets saw significant declines on Monday, with all three major indices falling sharply. The Dow Jones Industrial Average closed down 1.66%, the S&P 500 dropped 1.04%, and the Nasdaq Composite fell 1.13%.
Sector Performance Mixed
Gold and base metals sectors rose, standing out as bright spots. In contrast, application software and IT services led the declines, with tech stocks broadly underperforming.
IBM Records Worst Daily Drop in Two Decades
IBM shares plunged 13%, marking the company's largest single-day decline since 2000, drawing significant market attention. Adobe, Oracle, Salesforce, and Microsoft also declined, with losses ranging from 3% to 4.6%.
Chinese Stocks Face Pressure
The Nasdaq Golden Dragon China Index fell nearly 1%, indicating continued pressure on Chinese stocks.
- Dow drops 1.66%
- S&P 500 declines by 1.04%
- Nasdaq falls 1.13%
- IBM plummets 13%, biggest drop since 2000