The S&P 500 Index ($SPX) (SPY) on Monday closed down -0.79%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.88%. September E-mini S&P futures (ESU26) fell -0.79%, and September E-mini Nasdaq futures (NQU26) fell -1.88%.
Stock indexes retreated on Monday and settled lower as a sell-off in South Korean chipmakers weighed on technology stocks and crude oil prices surged amid renewed US-Iran hostilities. South Korea’s Kospi Index closed down more than -8% on Monday after SK Hynix and Samsung Electronics plunged more than -10% on concerns that the artificial intelligence boom has become overextended. On the positive side, software stocks rallied. Also, energy producers moved higher with crude oil prices up sharply.
