US stock market crash today: Dow, S&P 500, Nasdaq slide deep into the red — why is the stock market down today?

Market Overview - U.S. stocks traded lower on Monday as investors stepped back ahead of significant economic data that could influence the Federal Reserve's next actions, with major indexes declining by mid-morning, continuing last week's tech-led pullback [1][10] - The Dow Jones Industrial Average fell 122 points, or 0.25%, to 48,335, the S&P 500 slipped 0.33% to 6,804, and the Nasdaq Composite dropped 0.68% to 23,038, as traders remained cautious due to delayed jobs, inflation, and retail sales data following the recent government shutdown [2][10] Sector Performance - The technology sector faced the most pressure, with the Nasdaq lagging after last week's rotation out of AI leaders, which saw a 12.7% decline last week, and Broadcom falling more than 7%, dragging the S&P 500 tech sector down by 2.3% [3][10] - Despite the overall decline in tech, Nvidia rose about 1.5% on Monday, providing limited support to the sector [3][10] Stock Movements - Individual stocks experienced significant volatility, with Radiopharm Theranostics (RADX) surging over 140% and AMC Robotics (AMCI) jumping more than 150% on heavy trading volume [5][12] - On the downside, Ondas Holdings fell nearly 11% and IREN slid about 10%, reflecting increased speculative trading [5][12] Strategic Insights - Analysts suggest that market leadership is broadening, with Yardeni Research indicating that the "Magnificent Seven" could lose their dominance by 2026 due to intensifying AI competition, prompting investors to shift towards financials and value stocks [4][12] - Both Goldman Sachs and Morgan Stanley gained more than 1%, helping to cushion broader market losses [4][12] Upcoming Economic Data - Attention is now focused on macroeconomic data, with November nonfarm payrolls expected to show only 40,000 jobs added, a sharp decline from September's 119,000 [7][12] - Retail sales and CPI inflation data are also anticipated later this week, with any surprises potentially resetting rate-cut expectations and influencing the next market movement [7][12]