NEW YORK — Stocks are off to a weak start on Wall Street as markets cool down following their biggest weekly gain since the summer.
Technology stocks, which helped lead the market higher last week, were lower in the early going today.
The S&P 500 was off 0.4% in the first few minutes of trading and the tech-heavy Nasdaq was down 1%. The Dow Jones Industrial Average was little changed.
Crytpo-related stocks remained unstable following the implosion last week of FTX, a major crypto trading exchange. Coinbase, another crypto exchange platform, was off 6%.
Treasury yields were higher and crude oil prices fell.
On Tuesday, the government issues its October report on prices at the wholesale level, which analysts forecast to have retreated slightly to 8.3% year-over-year from September’s 8.5%. Wednesday’s retail sales report will give investors some reading on how the American consumer is reacting to persistent, four-decade high inflation.