US stocks closed lower Monday, unable to shake losses as investors weighed strong economic data against trade tensions and the upcoming Fed meeting. The S&P 500 and Nasdaq slipped 0.6% and 0.7% respectively, with the former snapping nine-day win streaks, while the Dow lost 98 points. Markets reacted to President Trump threatened new tariffs, including a 100% levy on foreign films, but sentiment improved following stronger-than-expected ISM services data. Still, uncertainty persisted after Trump said he has no plans to speak with China's President Xi, keeping investors cautious. Energy sector led the decline, followed by consumer discretionary and tech. Among stocks, Netflix and Paramount each dropped over 1.5%, Berkshire Hathaway slid 5% on news Warren Buffett will step down in 2026, and ON Semiconductor sank 8.3% after issuing a mixed outlook. Attention now turns to the Fed's two-day policy meeting, with markets awaiting clues on interest rates and the economic outlook.
Source: trading economi
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