Stocks Decline Amid Late-Day Selloff in Big Tech: Markets Wrap
- Declines in Meta Platforms, Alphabet weigh on Nasdaq 100
- U.S. inflation data due this week as rate-hike bets grow
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U.S. stocks fell late in the Monday session amid renewed declines in big tech names. Benchmark Treasury yields were little changed as investors assessed the outlook for monetary policy ahead of key inflation data later this week.
The S&P 500 declined, falling from session highs in the last hour of trading. The tech-heavy Nasdaq 100 ended near the day’s low, led lower by declines in Meta Platforms Inc., Microsoft Corp. and Alphabet Inc. Peloton Interactive Inc. soared after reports that it’s exploring takeover options. The Treasury curve steepened, though moves were subdued, and the dollar was little changed.