US stocks moved lower on Monday as Wall Street entered the final three trading days of 2025, closing out a turbulent year that is still on track to deliver strong overall gains. Technology shares led the decline, while sharp reversals in precious metals added to market volatility.
Tech Sector Weighs on Major Indexes
The tech heavy Nasdaq Composite fell about 0.7%, pressured by declines in major growth stocks. Shares of Nvidia and Tesla both dropped more than 1.5%, dragging the index lower.
The broader S&P 500 and the Dow Jones Industrial Average also slipped, each falling roughly 0.5% after opening near record territory.
Precious Metals Reverse Sharply
Commodities markets experienced heightened volatility as precious metals pulled back sharply following recent rallies. Silver prices tumbled as much as 7% after recently surging above $80 an ounce. Gold futures also retreated, falling more than 3%.
The declines followed a rapid run-up to record highs, prompting profit taking as investors reassessed positioning late in the year.
Strong Annual Performance Despite Volatility
Despite Monday’s losses, all three major US stock indexes are set to finish 2025 with solid gains. The S&P 500 is up more than 17% for the year, while the Dow has climbed over 14%.
The Nasdaq remains the standout performer, rising more than 22% year to date, even after briefly entering a bear market earlier in the year following the rollout of sweeping new tariffs.
Economic Data and Fed Outlook
Economic releases were relatively light, but data showing a sharp increase in pending home sales in November offered a positive signal. The jump marked the strongest gain since early 2023 and suggested improving buyer momentum.
Investor focus is now turning to the upcoming release of minutes from the Federal Reserve’s most recent policy meeting. The minutes are expected to provide insight into internal divisions and clues about the central bank’s next interest rate move in early 2026.
Conclusion
As 2025 draws to a close, US markets are showing signs of short term fatigue after a year marked by sharp swings and strong recoveries. While volatility remains elevated, solid annual gains and expectations around future monetary policy continue to shape investor sentiment heading into the new year.
