NASDAQ Slides After Last Week’s Gain

Stocks slipped on Monday as investors questioned whether the market was getting ahead of itself following five straight winning weeks.

The Dow Jones Industrials descended 41.06 points at 36,204.44.

The S&P 500 lost 24.85 points to 4,569.78.

The NASDAQ tumbled 119.54 points to 14,185.49, as investors sold Big Tech shares, which have led the market’s gains this year.

Marathon Digital and Riot Platforms each jumped more than 8% as bitcoin advanced. Microstrategy and Coinbase added 6.7% and 5.5%, respectively.

Alaska Air Group dropped 14.2% after it agreed to acquire rival Hawaiian Airlines for $1.9 billion. The move is part of Alaska’s efforts to expand along the West Coast.

Monday’s moves mark a pullback following a strong period in the market. Technology shares struggled in the session. Nvidia slid more than 2%, while Microsoft and Meta each lost more than 1%.

Prices for the 10-year Treasury stumbled, raising yields to 4.26% from Friday’s 4.21%. Treasury prices and yields move in opposite directions.

Oil prices gave back 79 cents to $73.28 U.S. a barrel.

Gold prices lost $42.80 to $2,046.90.

NASDAQ Slides After Last Week’s Gain