Traders work on the floor at the New York Stock Exchange in New York City, U.S., Dec. 15, 2025. <\/p>\n
Brendan McDermid | Reuters<\/p>\n
Stocks fell on Monday, spurred by losses in technology, after the S&P 500 scaled to record levels last week. The S&P 500 dropped 0.4%, while the Nasdaq Composite shed 0.6%. The Dow Jones Industrial Average pulled back by 193 points, or 0.4%.<\/p>\n
The artificial intelligence trade came under a bit of pressure in the session. Nvidia shares dropped more than 1%, giving back some of its more than 5% gain in last week’s period. Palantir Technologies and Meta Platforms also suffered losses, as did Oracle and Advanced Micro Devices.<\/p>\n
According to Chris Larkin, head of trading and investing at E-Trade from Morgan Stanley, “Given this week’s light economic calendar, internal momentum could be the main market storyline this week. If stocks are going to close out another year of double-digit gains on a high note, they’ll likely need tech to do much of the heavy lifting.”<\/p>\n
Meanwhile, silver pulled back more than 8% after reaching $80 per ounce for the first time ever overnight. This comes as the precious metal has had a massive run-up in 2025, surging almost 150% to become one of the year’s hottest trades. The iShares Silver Trust (SLV) lost more than 9%.<\/p>\n
Those moves come after the S&P 500 on Friday hit an intraday high of 6,945.77 before ending the session just below breakeven. It has been a banner year on Wall Street, with the benchmark index up more than 17% in 2025. The Dow has gained 14%, putting it on track for its strongest year since 2021. The Nasdaq Composite has outperformed year to date, up more than 21%.<\/p>\n
Wall Street is also in the throes of the Santa Claus rally period, a historically strong time for the stock market. Since 1950, the S&P 500 has averaged a gain of more than 1% between the last five trading days of the year and the first two of the new year, according to the Stock Trader’s Almanac.<\/p>\n