Over the weekend, reports emerged that Nvidia plans to raise the price of servers containing its AI chip by 15 percent. Nvidia, which reports its quarterly results on Wednesday, fell 2.9 percent. Other chipmakers, such as Micron, also retreated.
This is the seventh consecutive trading day that Nvidia's stock has fallen. The longest losing streak since 2022, according to The Wall Street Journal.
The tech-heavy Nasdaq Composite Index and the broad-based S&P 500 Index fell 0.8 and 0.3 percent, respectively. The Dow Jones Industrial Average bucked the trend, rising 0.3 percent.
The trading day was also marked by an escalating trade conflict between the United States and Canada, with new threats from the White House about increased tariffs.
Oil prices continue to fall. A barrel of North Sea oil closed at around $92, down from $94.4 on Friday.
