Market Watch: Precious Metals Shake Markets, As Earnings Loom

The S&P 500 and Nasdaq experienced volatility as precious metals saw steep declines, influenced by CME Group's margin requirement hikes. The appointment of Kevin Warsh as Federal Reserve chair added uncertainty. Energy stocks fell, while rare earth miners rose amid strategic U.S. moves. Investors focus on a busy earnings week and economic data.

The S&P 500 and Nasdaq experienced fluctuations on Monday as markets reacted to a significant selloff in precious metals, coinciding with a busy week of corporate earnings and key economic data releases. Gold and silver initially plummeted due to CME Group's margin requirement hike, but eventually regained some ground.

Adding to the market uncertainty was President Donald Trump's nomination of Kevin Warsh for Federal Reserve chair, a move perceived as hawkish by investors, exacerbating a selloff that began last week. Amidst this, energy stocks tumbled as Trump suggested a de-escalation with Iran, causing oil prices to fall.

Although tech giants faced struggles, with significant declines in Nvidia and Tesla shares, Microsoft saw a rebound following a challenging week of disappointing cloud revenue. As Disney's earnings surpassed expectations, it nonetheless faced a stock decline, setting the stage for a critical week with multiple economic indicators and tech earnings reports on the horizon.

(With inputs from agencies.)