U.S. stocks opened sharply lower on Monday, as all three major indices tumbled out of the gate. The Dow Jones Industrial Average dropped 0.99%, the S&P 500 slipped 0.79%, and the Nasdaq Composite fell 0.89%, reflecting broad-based selling pressure.
Tech Rout Drags Down Broader Market
Technology shares led the decline, weighing heavily on the Nasdaq. Rising concerns over valuations and the potential for stubborn inflation have reignited fears of prolonged tighter monetary policy.
- Dow off more than 300 points, with industrial and financial stocks under pressure
- Nine of the S&P 500’s eleven sectors declined, led by tech
- Nasdaq posted its third consecutive negative open, signaling weakness in growth stocks
Analysts suggest that heightened economic data volatility and geopolitical tensions could fuel further market turbulence. Investors are likely to focus on upcoming earnings guidance and comments from Fed officials in the near term.