Stocks slipped on Wall Street on Monday, while crude oil prices rose and gold and silver prices pulled back after recent sharp gains.
- The S&P 500 fell 24.20 points, or 0.3%, to 6,905.74. With just two more trading days left in 2025, the S&P 500 is up more than 17% for the year.
- The Dow Jones Industrial Average fell 249.04 points, or 0.5%, to 48,461.93.
- The Nasdaq composite fell 118.75 points, or 0.5%, to 23,474.35.
Energy stocks gained ground along with rising oil prices, the
AP reports. US benchmark crude jumped 2.4% to settle at $58.08 per barrel. The price of Brent crude, the international standard, rose 2.1% to settle at $61.94 a barrel. Exxon Mobil rose 1.2%.
Big technology stocks with outsized valuations were among the heaviest weights on the market. Nvidia fell 1.2% and Broadcom fell 0.8%. Investor optimism about the future of artificial intelligence has been driving the sector mostly higher all year and pushing the broader market to a series of records. Technology stocks have been more unsteady as the year heads to a close, though. They mostly slipped in November and have only notched modest gains through December. Nvidia and several other companies focusing on AI or benefiting heavily from the developing technology have become some of the most valuable in the world. Investors have seemingly become more skeptical about whether the eventual payoff will make the hefty investments worthwhile.
Gold and silver prices pulled back from their recent sharp gains after the Chicago Mercantile Exchange, one of the world's largest trading floors for commodities, asked traders to put up more cash to make bets on precious metals. The price of gold fell 4.6%, though prices for the precious metal are still up about 64% for the year. Silver prices slumped 8.7%, but they have still more than doubled overall in 2025. Wall Street faces another short week in the final stretch of 2025. Markets in the US will be closed on Thursday for New Year's Day.
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