S&P 500 ends Monday lower as investors trim tech holdings ahead of year-end

Stocks ended lower on Monday, led by declines in technology shares, following the S&P 500’s climb to record highs last week.

The S&P 500 slipped 0.35% to close at 6,905.74, while the Nasdaq Composite fell 0.50% to 23,474.35. The Dow Jones Industrial Average retreated 249 points, or 0.51%, finishing the session at 48,461.93.

Artificial intelligence–related stocks faced renewed selling pressure. Nvidia fell more than 1%, paring part of its over 5% gain from last week. Shares of Palantir Technologies, Meta Platforms, and Oracle also moved lower during the session.

In commodities, silver saw a sharp pullback, sliding more than 6% after briefly touching $80 per ounce for the first time. Despite the decline, silver remains one of 2025’s top-performing assets, up nearly 150% for the year. The iShares Silver Trust (SLV) dropped around 7%.

Monday’s decline followed Friday’s session, when the S&P 500 reached an intraday record of 6,945.77 before closing near flat.

Despite the pullback, U.S. equities are on track for a strong year. The S&P 500 is up more than 17% in 2025, the Dow has gained roughly 14%—its best annual performance since 2021—and the Nasdaq Composite has risen over 21% year to date.

Looking ahead, the economic calendar remains relatively quiet, but investors will be watching the Federal Reserve’s December meeting minutes, scheduled for release Tuesday at 2 p.m. ET, for further insight into the central bank’s outlook heading into 2026.