The stock market faced a sharp sell-off on Monday, with the Dow Jones Industrial Average falling 1.5%, or 650 points, in early trading. The S&P 500 and Nasdaq composite indices also declined, losing 1.6% and 1.8% respectively.
Nvidia (NVDA) and Tesla (TSLA) were among the two big winners of the year, but both stocks saw significant declines on Monday. Nvidia fell 2.1% after failing to break through its 50-day line, while Tesla dropped 5% on Friday and remained under pressure, down 3.3% in early trading.
Other notable movers included Disney (DIS), BlackRock (BLK), Burlington Stores (BURL), and Taiwan Semiconductor Manufacturing (TSM). Disney’s shares are building a cup with handle that has a 118.63 buy point, while BlackRock is just under a 1,068.34 buy point in a four-weeks-tight pattern.
The decline in stocks comes as the 10-year Treasury yield ticked lower to 4.58%, and oil prices rose to around $71 per barrel. The stock market will be closed on Wednesday for the New Year’s Day holiday.
These are just some of the key companies to watch on Monday, according to IBD data. Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more insights on growth stocks and the stock market today.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-nvidia-stock-nvda-buy-point-tesla-tsla