By Chelsey Dulaney
U.S. markets were modestly lower Monday, while gold prices continued to slide following President Trump's declaration that there would be no tariff on gold bars.
Much market chatter centered on Nvidia and AMD's deal to pay the government a cut of their sales of artificial-intelligence chips to China, an arrangement that is unusual to say the least.
The Trump administration will receive 15% of the sales of Nvidia's H20 chips and AMD's MI308 chips, according to people familiar with the matter. The full terms of any deal weren't clear Monday. AMD was up 1% and Nvidia was flat.
U.S.-China relations will remain a key theme this week. The trade truce with China is set to expire on Tuesday, and it is unclear if the White House will grant Beijing an extension to avoid a jump in tariffs. Trump urged China late Sunday to step up American soybean purchases.
Meanwhile, Intel's chief executive is set to visit the White House on Monday, after Trump singled him out for his China ties last week and called for his removal. Intel shares climbed 4%.
In recent trading:
--The Dow fell while other indexes were flat. U.S. stocks rose last week, with the Nasdaq hitting record highs.
--European stocks edged lower. The region's defense stocks fell ahead of Friday's meeting between Trump and Russian President Vladimir Putin to discuss a Ukraine cease-fire.
--Gold futures were little changed Monday afternoon after Trump posted on social media that there would be no tariff on the precious metal. Prices spiked late last week on reports that Swiss gold bars could face 39% tariffs.
--Soybean prices rallied after Trump floated the idea of China quadrupling its soybean imports from the U.S.
--Bitcoin rose to around $120,000, boosting crypto stocks such as Coinbase and MicroStrategy.
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(END) Dow Jones Newswires
August 11, 2025 14:24 ET (18:24 GMT)
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