Market Overview
US stocks pulled back on Monday after setting record highs last Friday. The S&P 500 and Nasdaq both slipped by 0.1 percent, while the Dow Jones dropped nearly 165 points. Investors are reassessing the Federal Reserve’s policy stance following last week’s interest rate cut, with attention turning to speeches from key officials, including Fed Chair Jerome Powell, later this week.
Policy and Political Pressure
Market sentiment was also weighed down by President Trump’s proposal to reform the visa system. The plan includes a $100,000 application fee for the widely used H-1B visa program. This would significantly raise costs for companies, especially in the technology sector, and could affect hiring and expansion plans.
Sector Performance
Financial and energy stocks were the weakest performers of the day. In contrast, technology and communication services managed to stay in positive territory despite broader market weakness.
Big Tech and Large Caps
Among major companies, Nvidia slipped 0.4 percent, Microsoft lost 0.6 percent, Amazon fell 1 percent, and Broadcom edged down 0.3 percent. Meta bucked the trend with a 0.6 percent gain. Apple and Tesla stood out with stronger moves, rising 1.9 percent and 2.2 percent respectively, helping limit the overall market’s decline.
