US stocks dropped for the second straight trading session as investors cashed in on strong gains for equities markets in 2024.
The S&P 500, Wall Street’s main equities benchmark, fell 1.1 per cent on Monday, while the tech-heavy Nasdaq Composite dropped 1.2 per cent. Stocks had also pulled back significantly on Friday, with investors selling shares in large technology stocks that had posted big gains throughout much of 2024.
Monday’s decline was broad, with around 95 per cent of the stocks tracked by the S&P 500 falling, according to FactSet data. Aerospace group Boeing declined 2.3 per cent following a deadly crash of a 737-800 jet in South Korea at the weekend. US airlines fell as well, with United Airlines sliding by about 1.5 per cent.
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