Updated 30 min ago
S&P 500 Turns Lower. So Much for 'Buy the Dip.'
The major indexes lost their early momentum on Monday. So much for “buy the dip.”
The Nasdaq Composite was down 1.3% after opening higher. The S&P 500 was down 0.6%. The Dow was down 61 points, or 0.2%.
Among the hard-hit stocks include 2024's highflyers like Palantir Technologies, Constellation Energy, and Vistra. The PHLX Semiconductor Sector dropped 1.5% suddenly. Traders may be selling recent winners, especially those tied to the AI trade this morning. That said, the rest of the market wasn't far behind, as the Invesco S&P 500 Equal Weight ETF was down 0.3% and falling.
