U.S. equities fell slightly on Monday after the Dow Jones Industrial Average catapulted to intraday and closing records, and as investors looked ahead to Nvidia earnings.
The 30-stock Dow dropped 121 points, or 0.3%. The S&P 500 shed 0.2%, while the Nasdaq Composite lost 0.3%.
Intel shares initially extended its gains Monday before fizzling on the heels of Commerce Secretary Howard Lutnick revealing Friday that the U.S. government has taken a 10% stake in the chipmaker. That could be a sign of more to come from the Trump administration, as White House economic advisor Kevin Hassett said Monday that the stake is part of broader strategy to create a sovereign wealth fund.
President Donald Trump echoed that sentiment, saying Monday morning that he will make deals like the Intel stake "all day long."
The moves come after stocks closed out last week with a winning session. On Friday, the blue-chip Dow soared more than 800 points, or nearly 2%, to score new all-time intraday and closing highs. The tech-heavy Nasdaq Composite also gained almost 2%, while the broad market S&P 500 rose more than 1%. The latter came within three points of its record at its session high.
Source : CNBC
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