Nasdaq Down More Than 100 Points; Gold Falls 1%

U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dropping more than 100 points on Monday.

The Dow traded down 0.03% to 33,733.90 while the NASDAQ fell 1.04% to 11,030.61. The S&P 500 also fell, dropping, 0.38% to 3,950.12.

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Leading and Lagging Sectors

Consumer staples shares rose by 0.8% on Monday. Leading the sector was strength from Zevia PBC (NYSE: ZVIA) and Lifeway Foods, Inc. (NASDAQ: LWAY).

In trading on Monday, energy dipped by 2.1%.

Top Headline

Walt Disney Co's (NYSE: DIS) replaced CEO Bob Chapek with Robert Iger, the company's former chairman and CEO, who left the company at the end of last year.

Equities Trading UP

• Imago BioSciences, Inc. (NASDAQ: IMGO) shares shot up 105% to $35.62 after Merck announced it would acquire the company for $36 per share in cash.
• Shares of GrafTech International Ltd. (NYSE: EAF) got a boost, shooting 27% to $5.38 after the company said it could resume operations at its Monterrey, Mexico facility.
• Freight Technologies, Inc. (NASDAQ: FRGT) shares were also up, gaining 17% to $0.3596 after the company reported Q3 earnings results.

Equities Trading DOWN

• TuanChe Limited (NASDAQ: TC) shares tumbled 80% to $1.41. Tuanche reported pricing of $15 million registered direct offering.
• Shares of G Medical Innovations Holdings Ltd (NASDAQ: GMVD) were down 23% to $4.04 after the company reported first half 2022 financial results and issued a business update.
• Niu Technologies (NASDAQ: NIU) was down, falling 15% to $3.0150 after reporting downbeat quarterly earnings.

Also check out: Market Volatility Increases Slightly After S&P 500 Records Weekly Loss

Commodities

In commodity news, oil traded down 1.7% to $78.75 while gold traded down 1% at $1,737.20.

Silver traded down 0.9% to $20.80 on Monday while copper fell 1.8% to $3.5665.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.06%, London’s FTSE 100 fell 0.12% while Spain’s IBEX 35 Index rose 0.75%. The German DAX fell 0.36%, French CAC 40 fell 0.15% and Italy’s FTSE MIB Index fell 1.29%.

The annual producer inflation in Germany eased to 34.5% in October versus a record level of 45.8% in the prior month.

Asia Pacific Markets

Asian markets closed mostly lower on Monday, with the Japan’s Nikkei gaining 0.16% and Hong Kong’s Hang Seng Index falling 1.87%. China’s Shanghai Composite Index fell 0.39%.

The annual inflation rate in Hong Kong fell to 1.8% in October compared to a seven-year high of 4.4% in the prior month. The People's Bank of China maintained its key lending rates at November fixing.

Economics

The Chicago Fed National Activity Index declined to -0.05 in October versus a revised reading of +0.17 in September.

Check out this: Dow Jumps Around 200 Points, But Investor Sentiment Decreases Slightly

COVID-19 Update

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 100,209,100 cases with around 1,102,660 deaths. India confirmed a total of at least 44,670,430 cases and 530,580 deaths, while France reported over 37,348,830 COVID-19 cases with 158,160 deaths. In total, there were at least 643,209,060 cases of COVID-19 worldwide with more than 6,626,370 deaths.