US equity benchmarks ended mostly lower on Monday, as strength in technology names was not enough to counter broader market weakness amid mounting worries about a further escalation in the Middle East. The S&P 500 slipped 0.2%, the Dow Jones Industrial Average fell 307 points, and the Nasdaq 100 finished little changed.
More traditional sectors came under pressure as oil prices swung sharply in response to the deteriorating conflict between the US and Iran. Treasury yields moved higher, with energy-driven inflation concerns reinforcing expectations that the Federal Reserve could deliver another rate hike later this year.
Financials were weaker, with major banks retreating: JPMorgan fell 0.6% and Bank of America lost 1.4%. Industrials also struggled, and manufacturers posted declines, including Applied Materials, which slipped 0.7%.
By contrast, chipmakers recovered following the recent pullback in technology shares, as investors continued to evaluate whether AI hyperscalers might slow spending on AI infrastructure in the coming quarters. Broadcom climbed 2%, Micron advanced 1.9%, AMD rose 1.6%, and Intel gained 2.1%. Alphabet added 1.5% ahead of its guidance update scheduled for Wednesday.
