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Stocks retreated on Monday, following crypto prices lower, as volatility continued into December’s trading month.
The Dow Jones Industrials reached noon lower by 202.73 points to 47,513.69.
The S&P 500 Index ditched 13.96 points to 6,835.13.
The NASDAQ stumbled 44.18 points to 23,321.50.
Wall Street came back from the Thanksgiving holiday for a shortened trading session Friday.
Broadcom and Super Micro Computer each lost more than 2%, indicating more profit-taking in the artificial intelligence trade.
However, Synopsys shares popped after Nvidia announced an investment in the company. Nvidia shares rose more than 1%.
Bitcoin, the flagship cryptocurrency, dropped more than 7% to trade below $87,000. The digital currency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark.
Wall Street is coming off a strong week. The Dow and S&P 500 jumped more than 3%, while the NASDAQ rallied close to 5%.
But the market turned turbulent and was anything but smooth sailing in November. The S&P 500 and Dow closed modestly above flat for the month, while the NASDAQ shed 1.5% to snap a seven-month advance. At one point in November, the tech-heavy NASDAQ was down nearly 8% from the October close amid concerns around AI stock valuations.
The 10-year Treasury slumped, raising yields to 4.09% from 4.02% on Friday. Treasury prices and yields move in opposite directions.
Oil prices climbed 65 cents to $59.20
Gold prices gained $4.20 to $4,259.10.
Stocks Fall to Commence December
