US stocks ended lower on Monday as investors assessed developments in global energy markets and prepared for Apple’s quarterly financial results.
The S&P 500 declined, while Apple shares fell ahead of the company’s earnings announcement after the market closed.
Investors were particularly concerned about rising memory-chip costs and their potential effect on Apple’s profit margins.
Oracle shares also came under pressure following plans to raise $20 billion through debt and share offerings.
The technology-heavy Nasdaq continued to face pressure following losses recorded in October, when concerns grew that spending on artificial intelligence infrastructure was increasing faster than companies could generate cash from the investments.
Meanwhile, oil prices fell as hopes of a possible diplomatic breakthrough between the United States and Iran eased some concerns about energy supply disruptions.
