The S&P 500 dropped 0.6% to 5,650.38 while the Dow fell 0.2% to 41,218.83 and the Nasdaq declined 0.7% to 17,844.24 during Monday’s trading session. The technology sector led the market decline as Apple stocks dropped 3.1% and Amazon stocks fell 1.9% and Tesla stocks declined 2.4%. Berkshire Hathaway stock price dropped 5.1% after Warren Buffett revealed his decision to step down as CEO before the end of the year. The market declined after OPEC+ announced its intention to increase oil production which resulted in crude prices reaching their lowest point in four years. The market has experienced recent growth which counteracts trade war losses yet investors remain uncertain about future developments. The UK-US trade agreement announced on Thursday brought optimism despite ongoing market volatility caused by Trump’s tariffs which include 10% on UK goods and 25% on steel and autos. The Federal Reserve reported strong economic growth but the negative impact of tariffs might push the economy toward recession. The 10-year Treasury yield increased to 4.32% as inflation concerns grew due to mixed economic indicators which included reduced jobless claims and decreasing productivity. The European and Asian markets demonstrated small increases while other markets experienced varied results.
