S&P 500 Drops in Last 15 Minutes of Trading – US Market Wrap

Stocks fell ahead of Nvidia earnings due to a decline in several of the world’s major tech businesses.

The S&P 500 fell below 6,000, while the Nasdaq 100 lost more than 1%. Just days before Nvidia’s announcement, hedge funds’ net exposure to the “Magnificent Seven” megacaps reached its lowest level since April 2023. The chipmaker dropped 3.1%. Microsoft fell after an analyst suggested the software giant has dropped several AI data-center leases. Apple rose.

Investors have begun to increase their bets that volatility will return, as Nvidia’s earnings on Wednesday could be the first in a series of events that could throw the market into a whirlwind. The US benchmark has gone more than 30 sessions without a drop of more than 1%.

The S&P 500 fell 0.5%. The Nasdaq 100 dropped 1.2%. The Dow Jones Industrial Average fluctuated.

The yield on 10-year Treasuries fell three basis points to 4.4%. Bonds rose after a $69 billion offering of two-year notes attracted record demand. The Canadian dollar and Mexican peso fell as Trump expected tariffs on both countries to go into force next month.