The S&P 500 ended Monday slightly lower as key stocks in the artificial intelligence trade came under pressure.
The broad market index lost 0.16% to settle at 6,816.51 after beginning the session in positive territory. The Dow Jones Industrial Average slipped 41.49 points, or 0.09%, to finish at 48,416.56, while the Nasdaq Composite fell 0.59% to 23,057.41.
Certain AI stocks bogged down the broader market during Monday’s session, with shares of Broadcom and Oracle — two names that led a rotation away from AI last week — declining more than 5% and more than 2%, respectively. Others like Microsoft also also suffered some losses.
Investors moved instead to areas more sensitive to the economy, such as consumer discretionary and industrials. They also loaded up on health-care shares….Readmore