Stocks fell Monday as the rally that brought the major averages to record highs cooled off. Investors also looked ahead to fresh U.S. inflation data.
The Dow Jones Industrials faltered 71.16 points to pause Monday for lunch at 38,651.53.
The S&P 500 settled 12.39 points to 5,111.30.
The NASDAQ slumped 32.53 points to 16,052.58.
Information technology stock Super Micro Computer dropped more than 5%, while chipmaker Nvidia swung between gains and losses in another day of choppy trading. Both moves come as investors question if stocks tied to artificial intelligence have more room to run after monster rallies.
Meta also struggled, with the Facebook parent tumbling nearly 4%. Outside of tech, pharmaceutical stock Eli Lilly dropped more than 4%.
Traders are preparing for February's consumer and producer price indexes — which are set to release Tuesday and Thursday, respectively. These are among the last major economic reports before Federal Reserve leaders convene for their March policy meeting.
Prices for the 10-year Treasury lost ground, raising yields to 4.09% from Friday's 4.08%. Treasury prices and yields move in opposite directions.
Oil prices inched up nine cents to $78.10 U.S. a barrel.
Gold prices surged $6.40 to $2,191.90. U.S. an ounce.
