U.S. Stocks Decline: Consumer Health and AI Audibles Loom

U.S. stocks dropped about 1% on Monday amid investor concerns over consumer health, upcoming retail earnings, and a delayed jobs report. Losses were exacerbated by declines in key players like Nvidia. The Dow, S&P 500, and Nasdaq all recorded notable drops, influenced by AI valuation worries and market shifts.

On Monday, U.S. stocks experienced a downturn of approximately 1% as investors grappled with concerns over consumer health and anticipated retailer earnings reports. An overdue U.S. jobs report and Nvidia's earnings scheduled for later this week added to the market's uncertainty.

This week's earnings announcements from retail giants Walmart, Home Depot, and Target are set to conclude the quarterly earnings season. Home Depot shares saw a 1.1% decline ahead of their Tuesday report. Meanwhile, investors remained anxious over the September jobs data following last week's conclusion of the prolonged U.S. government shutdown.

Contributing to the day's market pressures was Nvidia's performance, a key player in the artificial intelligence sector, which saw its shares fall by 2.6%. Overall, the Dow dipped 475.06 points, the S&P 500 lost 65.25 points, and the Nasdaq Composite decreased by 237.41 points, amid a backdrop of AI-driven valuation anxiety and strategic moves by major firms like Berkshire Hathaway.

(With inputs from agencies.)