The S&P 500 and Nasdaq have ended lower, pulled down by technology stocks as investors weighed fresh US economic pressure against Iran and braced for a week that includes Nvidia earnings and a closely watched inflation report.
US President Donald Trump's administration announced on Monday a possible expansion of sanctions on countries doing business with Iran as part of what it billed as an “economic D-Day”. But it stopped short of actually imposing penalties.
Chip stocks sold off, dragging the Philadelphia SE Semiconductor index lower.
Nvidia dropped 2.9 per cent, Micron Technology fell 5.8 per cent and Broadcom slid 2.6 per cent, pressuring the S&P 500 Information Technology index.
Financials, however, gained, with JPMorgan Chase up 1.4% and Visa up 3.0%.
They also kept the blue-chip Dow afloat.
The Dow Jones Industrial Average rose 140.15 points, or 0.26%, to 53,417.16, the S&P 500 lost 21.51 points, or 0.28%, to 7,652.86, and the Nasdaq Composite lost 200.26 points, or 0.76%, to 25,980.19.
