U.S. Stock Indexes End Mixed; Nasdaq Slumps on Big Tech Slide


Major U.S. stock indexes ended mostly lower Monday amid signs that the Trump administration is laying the groundwork to ratchet up scrutiny on some of the market’s biggest names: Apple, Facebook, Amazon and Google.

Google’s parent Alphabet lost 6.1% and Facebook sank 7.5%. Apple shed 1% on the day that the iPhone seller kicked off its annual software showcase. Amazon fell 4.6%. The four have a combined market value of nearly $3 trillion, and their losses helped tilt the S&P 500 lower on a day when there were actually more gainers than losers in the stock market.

Investors were reacting to media reports suggesting that government regulators are setting the stage for potential antitrust probes into each of the four technology giants.

The S&P 500 index fell 7.61 points, or 0.3%, to 2,744.45. The Dow Jones Industrial Average added 4.74 points, or less than 0.1%, to 24,819.78.

The Nasdaq composite lost 120.13 points, or 1.6%, to 7,333.02. It’s now down 10.2% from its all-time high set May 3.

The Russell 2000 index of small companies rose 4.50 points, or 0.3%, to 1,469.98.

Major stock indexes in Europe closed broadly higher.

Bond prices climbed again Monday, pulling the yield on the 10-year Treasury note down to 2.07% from 2.14% late Friday.

Benchmark U.S. crude slid 0.5% to settle at $53.25 a barrel. Brent crude oil, the international standard, closed 1.1% lower at $61.28 per barrel.

Wholesale gasoline fell 1.7% to $1.74 per gallon. Heating oil dropped 1.8% to $1.81 per gallon. Natural gas gave up 2.1% to $2.40 per 1,000 cubic feet.

Gold gained 1.3% to $1,327.90 per ounce, silver added 1.2% to $14.74 per ounce and copper fell 0.4% to $2.65 per pound.

The dollar fell to 108.02 Japanese yen from 108.41 yen on Friday. The euro strengthened to $1.1257 from $1.1171.