Tech Stocks Drag Down US Market Amid Growing Concerns Over AI Industry

The US stock market ended lower on Monday due to technology stocks being pulled down.

Investors were weighing fresh US economic pressure against Iran and bracing for a week that includes Nvidia earnings and a closely watched inflation report.

The S&P 500 lost 21.37 points, or 0.28%, to end at 7,653.00 points, while the Nasdaq Composite lost 200.80 points, or 0.77%, to 25,979.66.

Chip stocks were among those selling off, dragging down the Philadelphia SE Semiconductor index, with Nvidia and Micron Technology falling by a significant margin.