Nasdaq falls 1.1% as Dow closes 214 points higher
The Dow gained 214 points, or 0.4%, while the S&P 500 fell 0.5% and the Nasdaq dropped 1.1% as a tech rebound faded and oil prices slid on Iran talks hopes.
U.S. stocks ended mixed Monday as an early bounce in technology shares faded, while a sharp drop in oil prices lifted the Dow. This is the final reading at the 4 p.m. close. As reported earlier, the Dow had been up about 500 points during the morning.
The Dow Jones Industrial Average gained about 214 points, or 0.4%, to 51,984. The S&P 500 fell about 39 points, or 0.5%, to 7,541. The Nasdaq Composite declined about 273 points, or 1.1%, to 25,164.
Technology shares were up as much as 0.8% early after falling 4.9% on Friday, as investors expected a rebound. Buying then gave way to selling, and the sector closed down 2.9%, according to MarketWatch.
Oil futures fell $7.66, or 7.4%, to $96.46 a barrel in New York, on hopes for U.S.-Iran negotiations. Iran's foreign minister said talks with Qatari mediators on a proposal to reopen the Strait of Hormuz were continuing. MarketWatch also pointed to concern about a possible AI bust weighing on tech.
(The photo is a file photo of the New York Stock Exchange building. It is not from today's trading.)