The S&P 500 and Nasdaq Composite were in the red on Monday as chip stocks rebounded from Friday and President Donald Trump tried to maintain a fragile truce despite trade attacks from Iran and Israel.
The broad market index rose 0.30% to close at 7,405.73. The tech Nasdaq rose 0.86% to end at 25,929.66. The Dow Jones Industrial Average lost 80.77 points, or 0.16%, to end at 50,786.01.
Shares of Micron Technology, the memory chip maker that led the latest part of the bull market, rose nearly 10% after falling 13% on Friday. Shares of Nvidia and Broadcom were also higher.
The Nasdaq Composite fell 4.2% on Friday, its worst decline since April 2025, as investors took profits from chip stocks on concerns that stocks have gone too far given the uncertain economic situation. The iShares Semiconductor ETF was almost 6% higher on Monday after falling 10% on Friday, its worst day in more than six years.
Asia-Pacific markets fell on Monday in response to the Nasdaq’s decline on Friday, with South Korea’s benchmark Kospi leading the decline, falling more than 8% to end at 7,484.41. Japan’s Nikkei 225 fell 3.85% to 64,024.6. Meanwhile, the European Stoxx 600 was marginally lower on Monday, SEEbiz reports.
Iran’s attacks on Sunday raised new concerns about the stability of the truce between Washington and Tehran. The report of the missile attack followed a post on X by Iranian Parliament Speaker MB Ghalibaf, who claimed that the US naval blockade and alleged violations of agreements related to Lebanon constituted ceasefire violations.
