The S&P 500 Index ($SPX) (SPY) closed down by -0.28% on Monday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.97%. E-mini S&P futures (ESU26) fell -0.27%, and September E-mini Nasdaq futures (NQU26) fell -0.95%.
Stock indices settled mostly lower on Monday, with the S&P 500 falling to a 2.5-week low and the Nasdaq 100 falling to a 3-week low. The broader market was under pressure on Monday amid the weakness in chipmakers and AI-infrastructure stocks. Also, weighing on market sentiment was the collapse of trade talks late last Friday between Canada and the US, prompting the US to apply a 50% tariff on about $20 billion of Canadian goods. Canada announced retaliation on US goods that will take effect on September 8.
