Market Turbulence: Precious Metal Selloff Shakes Wall Street

Wall Street's main indexes opened lower following a sharp selloff in precious metals, creating unease among investors at the start of a significant week. On Monday, the Dow, S&P 500, and Nasdaq all recorded losses as the market faced a mix of corporate earnings and major economic data releases.

Wall Street faced a rocky opening on Monday as a dramatic selloff in precious metals sparked jitters among investors. The downturn sets an uneasy tone as markets brace for a week laden with corporate earnings reports and significant economic data releases.

At 9:30 a.m. ET, the Dow Jones Industrial Average slipped by 52.74 points, marking a 0.14% decline to settle at 48,849.03. Simultaneously, the S&P 500 dropped by 14.90 points, reflecting a 0.22% decrease to land at 6,923.46, while the Nasdaq Composite saw a fall of 92.34 points, or 0.39%, bringing it down to 23,380.75.

The initial market reaction underscores investor caution as the financial world navigates through potential volatility driven by external markets and looming economic factors.

(With inputs from agencies.)