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Technology stocks pulled the S&P 500 and Nasdaq lower on Monday as investors weighed fresh U.S. economic \u200cpressure against Iran and braced for a week that includes Nvidia earnings and a closely watched inflation report.<\/strong><\/p>\n The Trump administration on Monday announced an expansion of secondary sanctions it can impose on entities and countries that maintain business ties with Iran as Washington significantly ratchets up economic pressure on Tehran with the Iran \u200bwar nearing its six-month mark.<\/p>\n Chip stocks sold off, with the Philadelphia SE Semiconductor index\u00a0falling 2.6%. Nvidia\u00a0lost 2.3%, Micron Technology fell almost \u200b5.6% and Broadcom\u00a0slid 2.1%, pressuring the S&P 500 Information Technology index.<\/p>\n Financials, however, gained 1%, with JPMorgan Chase\u00a0\u2060up 1.1% and Visa\u00a0adding 2.5%. They also kept the blue-chip Dow afloat.<\/p>\n At 02:02 p.m., the Dow Jones Industrial Average\u00a0was up 77.53 points, \u200bor 0.14%, to 53,353.49, the S&P 500\u00a0lost 20.20 points, or 0.26%, to 7,654.13 and the Nasdaq Composite\u00a0lost 148.77 points, or \u200b0.57%, to 26,031.68.<\/p>\n EYES ON WARSH\u2019S JACKSON HOLE SPEECH<\/strong><\/p>\n Concerns over ballooning government debt had pushed the 30-year yield to a 19-year high before the Treasury announced support measures last week.<\/p>\n CNBC reported on Monday that Treasury Secretary Scott Bessent could tap the department\u2019s near $1 trillion General Account to help fund bond buybacks. Yet, \u200bthe 30-year U.S. Treasury yield remained above the 5% threshold.<\/p>\n This turbulence has sharpened focus on Federal Reserve Chair Kevin Warsh\u2019s speech at \u200bthe Jackson Hole symposium on Friday, where investors will look for clues on policymakers\u2019 reading of the Treasury\u2019s rescue efforts.<\/p>\n Quarterly results from AI giant Nvidia are \u200cexpected to \u2060be another key catalyst for markets. Any sign of slowing growth could reignite concerns over stretched valuations.<\/p>\n \u201cNvidia needs to impress in order to keep one leg of the stock market stable, and Warsh needs to provide clarity on interest rates in order to keep the other leg stable,\u201d said Richard Reyle, chief investment officer at Questar Capital Partners. \u201cThe Treasury\u2019s unprecedented action in the bond market puts Warsh \u200bin a tough spot, especially for \u200ba Chair that seems to \u2060prefer less communication.\u201d<\/p>\n Markets will also monitor the Personal Consumption Expenditures report, the Fed\u2019s preferred inflation gauge, due on Wednesday. It will follow a benign consumer inflation report earlier this month that reduced the \u200bchances of an immediate increase in interest rates.<\/p>\n Traders expect one 25-basis-point hike by the end of \u200b2026, according to \u2060LSEG data.<\/p>\n Separately, U.S. President Donald Trump warned that tariffs on cars, trucks and automotive parts from Canada would be increased to 50% starting January 1 after trade talks collapsed over the weekend.<\/p>\n Automakers Ford and General Motors fell 3% and 1.2%, respectively, while trucking company J.B. Hunt Transport dropped 5.3%.<\/p>\n Declining issues outnumbered advancers by \u2060a 1.21-to-1 \u200bratio on the NYSE. There were 118 new highs and 94 new lows on \u200bthe NYSE.<\/p>\n The S&P 500 posted 16 new 52-week highs and 7 new lows while the Nasdaq Composite recorded 71 new highs and 80 new lows.<\/p>\n<\/div>\n