U.S. stocks fell Monday while government bonds increased in sales after traders dropped bets that the Federal Reserve would cut interest rates this year.
The Nasdaq 100 was hit the hardest, dropping 1.4%, down for a second day after suffering its worst week since March.
Profit taking in the tech sector continued as some of the year’s biggest companies — including AI-favorite Nvidia Corp. and Meta Platforms Inc. began to loose their shine.
And after Goldman Sachs downgraded Tesla Inc. last Friday, the company slumped 6.1% following a major rally.
