S&P 500, Dow Jones, Nasdaq crash at U.S Stock Market. Top gaining, losing stocks at Wall Street

U.S Stock Market indexes tanked on Monday after S&P 500 fell 1 per cent, Dow Jones Industrial Average dropped 1.7 per cent, and the Nasdaq composite sank 1.1 per cent. S&P 500 fell 71.76 points to 6,837.75. The Dow Jones Industrial Average dropped 821.91 to 48,804.06, and the Nasdaq composite sank 258.80 to 22,627.27. President Donald Trump said on Saturday that he would place temporary 15 per cent tariffs on other countries. That’s up from the 10 per cent rate he announced Friday following a Supreme Court ruling that struck down his sweeping 'reciprocal' taxes on imports from around the world.

Among the 11 major sectors of the S&P 500, financials were down the most, while consumer staples enjoyed the largest percentage gain. The healthcare index advanced, with a boost from Eli Lilly after rival Novo Nordisk's obesity drug CagriSema underperformed Eli Lilly's drug Zepbound in a head-to-head trial. Among other movers, Domino's Pizza surged after the fast-food chain's fourth-quarter same-store sales beat Wall Street estimates. PayPal jumped following a Bloomberg report that the payments firm is attracting takeover interest.

On Wall Street, big losses hit companies under suspicion of getting undercut by AI-powered rivals. Investors have been sharply and suddenly punishing stocks of such companies recently.


CrowdStrike fell 9.8 per cent to widen its loss for the young year so far to 25.3 per cent. A new tool from Anthropic that scans codebases for security vulnerabilities and suggests targeted software patches for human review has been hitting stocks across the cybersecurity industry.

AppLovin sank 9.1 per cent and took its loss for the year to date to 43.5 per cent. It’s among the software companies hurt by worries that AI competition will steal customers and fundamentally reset their industries.

Companies that have lent money to software companies whose revenues may be under threat also continued falling, and Blue Owl Capital fell 3.4 per cent to bring its loss for the year so far to 30.1 per cent.

More big moves may still be ahead for Wall Street this week, particularly with a profit report from Nvidia coming on Wednesday.

Worries are rising that companies like Alphabet and Amazon may be spending so much on Nvidia’s chips that they’ll never be able to recoup their investments through higher productivity and future profits.

Elsewhere on Wall Street, stocks of airlines fell after heavy snow and high winds canceled thousands of flights across the busy Northeast.

United Airlines lost 5.2 per cent, American Airlines fell 4.9 per cent and Delta Air Lines sank 3.7 per cent.

Novo Nordisk’s stock that trades in the United States tumbled 16.4 per cent after the Danish drugmaker said a trial for its CagriSema drug showed people lost a smaller percentage of their weight after 84 weeks than with a similar one made by rival Eli Lilly. Eli Lilly rose 4.9 per cent.