The S&P 500 was down 1%, with only 140 stocks in the index rising on the day. The Nasdaq Composite was down 1.4%. The Dow was down 217 points, or 0.5%.
What began as profit taking in highflying technology stocks on Monday is starting to snowball. Tesla, Nvidia, Micron Technology, and Palantir Technologies were among the S&P’s worst stocks, but now a majority of S&P sectors are struggling. The market is waiting for a wave of key economic data releases and earnings reports that are due in the days ahead. In the absence of major trade news, Wall Street has more time to digest last week’s run.
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