US equity markets closed lower on Monday, with the Nasdaq Composite falling 1.32% to 26,166.60 as selling pressure in large-cap technology stocks overwhelmed broader market resilience.
The S&P 500 also retreated, dropping 0.4%, while the Dow Jones Industrial Average managed a modest gain of 0.3%.
Despite the broad weakness in the tech sector, quantum computing firm IQM bucked the trend, rising 2% after its recent SPAC listing on Nasdaq.
The decline was driven by losses among semiconductor and hardware names, with chipmakers leading the sell-off.
Despite the broad weakness in the tech sector, quantum computing firm IQM bucked the trend, rising 2% after its recent SPAC listing on Nasdaq.
The divergence highlights how specific catalysts can offset sector-wide headwinds for smaller-cap or newly listed entities.
The tech-heavy Nasdaq’s sharper decline underscores the continued sensitivity of growth stocks to shifting sentiment.
While the Dow’s modest gain suggests some rotation into value or defensive sectors, the overall market tone remains cautious as investors digest the latest round of selling in high-multiple names.