US stocks declined on Monday, as investors awaited key inflation data that could offer cues on the US Federal Reserve’s interest rate cut plans later this year.
At 9:39 a.m. ET, the Dow Jones Industrial Average was down 75.72 points, or 0.20 per cent, at 38,646.97, the S&P 500 was down 9.74 points, or 0.19 per cent, at 5,113.95, and the Nasdaq Composite was down 21.81 points, or 0.14 per cent, at 16,063.31.
The consumer price index (CPI) report for February will be released on March 12.
ALSO READ: Wall Street week ahead: Stock market investors to keenly watch for Feb inflation data
Shares of Microsoft fell 0.8 per cent, Amazon shed 1.0 per cent, Nvidia lost 0.7 per cent, Advanced Micro Devices and Broadcom slid close to 2 per cent each, and Boeing dropped 2.2 per cent.
Cryptocurrency and blockchain-related companies, including Coinbase Global, Riot Platforms and Marathon Digital, climbed between 2.7 per cent and 2.9 per cent, as Bitcoin struck a fresh record high at $72,234 on Monday.
The yield on the 10-year Treasury rose to 4.09 per cent from 4.08 per cent late on Friday.
European stock markets retreated on Monday.
Britain’s FTSE 100 shed 0.5 per cent at 7,621.65 points. France’s CAC 40 fell 0.3 per cent at 8,001.81. Germany’s DAX lost 0.7 per cent at 17,693.22.
Euro Stoxx 50 declined 0.7 per cent at 4,924.42.
In Asian stock markets, Hong Kong’s Hang Seng Index climbed 1.4 per cent at 16,587.57. China’s Shanghai Composite edged up 0.7 per cent at 3,068.46.
Japan’s Tokyo Nikkei 225 tanked 2.2 per cent at 38,820.49.
Oil prices slipped on Monday on persistent geopolitical concerns in the Middle East.
Brent futures were down 31 cents at $81.77 a barrel as at 1222 GMT, while US West Texas Intermediate (WTI) fell 34 cents to $77.67.
Gold was flat on Monday, after a record rally last week.
Spot gold was steady at $2,179.69 per ounce at 9:32 a.m. ET (1332 GMT), after hitting a record high on Friday at $2,194.99.
US gold futures were also little changed at $2,186.20.
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Published: 11 Mar 2024, 08:29 PM IST