01 Stock Market

Wall Street stocks tumbled on Monday, as ongoing fears of artificial intelligence-related disruption and the fallout from Friday's U.S. Supreme Court ruling sent investors fleeing from high-risk equities.

A broad selloff sent all three major U.S. stock indexes more than 1% lower by the closing bell, as risk appetite was dampened by a combination of persistent fears over potential disruption due to emergent artificial intelligence technology and Trump's erratic statements on trade policy, which fueled much of the market volatility during the first year of the president's second term.

Dow Jones down 1.66% at 48804.06; S&P 500 down 1.04% at 6837.75; NASDAQ down 1.13% at 22627.27. Risk appetite softened amid renewed trade-policy uncertainty, with selling concentrated in technology and software while haven-linked assets gained. Volatility rose as investors assessed cross-border tariff developments and potential corporate catalysts.

Unusual-move stocks showed pronounced dispersion across mega caps, semiconductors, cybersecurity, and precious metals-linked ETFs. NVIDIA up 0.91% at $191.55; Apple up 0.60% at $266.18; Tesla down 2.91% at $399.83; Microsoft down 3.21% at $384.47; Novo Nordisk down 16.43% at $39.63; Alphabet down 1.02% at $311.69; Amazon down 2.30% at $205.27; AMD down 1.77% at $196.60; Intel down 1.09% at $43.63; CrowdStrike down 9.85% at $350.33. Precious metals proxies advanced: iShares Silver Trust (SLV) up 5.16% at $80.57; ProShares Ultra Silver (AGQ) up 10.07% at $174.48; SPDR Gold ETF (GLD) up 2.70% at $481.28.

Software and select growth names lagged while certain U.S.-listed China ADRs saw resilience. Oracle down 4.57% at $141.31; Meta Platforms down 2.81% at $637.25; leveraged chip exposure weakened with SOXL down 1.86% at $65.86 and TSLL down 5.89% at $14.53. Among ADRs, NIO up 4.34% at $5.29 and PDD Holdings up 0.78% at $105.76 contrasted broader pressure, while Palantir fell 3.43% at $130.60, reflecting sector-specific headwinds.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.14%, latest at 4.03%.

USD/CNH rose 0.00%, at 6.91; USD/HKD fell 0.0051%, at 7.82.

U.S. Dollar Index fell 0.0143%, at 97.70.

WTI crude futures fell 0.02%, at 66.30 USD/bbl; COMEX gold futures rose 0.67%, at 5260.50 USD/oz.

03 Top News

PayPal Stock Jumps After Stock Slump Said to Spark Suitors' Interest

PayPal stock climbed 6% on Monday after a media report indicated that PayPal Holdings' (PYPL) has piqued the interest of some potential acquirers, according to a media report on Monday.

The attention comes after PayPal stock slid ~44% in the past year, 22% in the past month alone.

The company that pioneered digital payments technology has held meetings with banks as it has received unsolicited interest from suitors, Bloomberg News reported, citing people familiar with the matter. At least one large competitor is considering an acquisition of the entire company, while others are looking at specific parts of PayPal (PYPL), they added.

Novo Nordisk Stock Tumbles as Next-Gen Obesity Shot Underperforms Lilly’s Tirzepatide

Novo-Nordisk A/S shares fell over 16% on Monday after the company’s next-generation obesity drug CagriSema delivered less weight loss than Eli Lilly’s competing treatment in a phase 3 trial, raising new concerns about its sales potential.

The REDEFINE 4 trial included 809 randomized people with obesity and one or more comorbidities and with a mean baseline body weight of 114.2 kg. It investigated CagriSema (a fixed-dose combination of cagrilintide 2.4 mg and semaglutide 2.4 mg) compared to tirzepatide 15 mg, both administered once-weekly and subcutaneously.

Taleb, Citrini Fuel AI Scare Trade as IBM Drops Most in 25 Years

The artificial intelligence “scare trade” erupted again on Monday as growing concerns about the disruptive power of AI dragged down shares of delivery, payments and software companies, and sent IBM. to its worst plunge in 25 years.

It began after a bearish report was published over the weekend by a little known firm called Citrini Research.

The report, released on social media Sunday, outlined the potential risks to various segments of the global economy, using hypothetical scenarios set in the future, specifically calling out food delivery services and credit card companies as ones facing trouble.

Then AI startup Anthropic said in a blog post Monday that Claude Code tool can help with modernizing COBOL, a dated programming language that’s mainly run on IBM computers.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: This content is for reference only and does not constitute investment advice.