05.05.202520:02:12UTC+00S&P 500 Snaps 9-Day Win Streak

US stocks concluded the trading session on a lower note this Monday, as market participants grappled with robust economic indicators amidst ongoing trade tensions and anticipation surrounding the Federal Reserve's upcoming meeting. The S&P 500 and Nasdaq indices declined by 0.6% and 0.7% respectively, halting a nine-day streak of gains for the S&P 500, while the Dow Jones Industrial Average fell by 98 points. Investor sentiment wavered following President Trump's threat to impose new tariffs, notably a potential 100% tariff on foreign films. However, the release of stronger-than-expected ISM services data provided some relief. Despite this, ambiguity remained after President Trump announced he has no plans to engage in discussions with China's President Xi Jinping, which kept investors on edge. The energy sector experienced the largest decline, followed by consumer discretionary stocks and the technology sector. Within the stock market, Netflix and Paramount each saw reductions of over 1.5%, Berkshire Hathaway dipped by 5% following the announcement that Warren Buffett plans to step down in 2026, and ON Semiconductor fell 8.3% after issuing a mixed business outlook. Attention is now focused on the Federal Reserve's two-day policy meeting, as markets look for indications regarding interest rate decisions and the broader economic forecast.