US equity markets closed lower on Monday, with the Nasdaq Composite falling 1.32% to 26,166.60.
The S&P 500 also retreated, dropping 0.4%, while the Dow Jones Industrial Average managed a modest gain of 0.3%.
The San Francisco-based company’s shares rose 2%, according to Kauppalehti, highlighting pockets of strength even as the wider sector faced headwinds.
The decline was driven by losses among large-cap technology stocks, which overwhelmed broader market resilience.
Selling pressure in the sector weighed heavily on the tech-heavy Nasdaq, while the broader S&P 500 struggled to find footing amid the risk-off sentiment.
Amid the broader tech weakness, quantum computing firm IQM, which recently listed on Nasdaq via a SPAC merger, bucked the trend.
The San Francisco-based company’s shares rose 2%, according to Kauppalehti, highlighting pockets of strength even as the wider sector faced headwinds.
Investors are now looking ahead to upcoming economic data releases and Federal Reserve commentary for clues on the next market direction.
The divergence between the Dow’s modest gains and the Nasdaq’s sharper decline underscores the ongoing rotation away from high-growth tech names.