LIVE MARKETS-US stocks end lower, break nine day winning streak

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U.S. STOCKS END LOWER, BREAK NINE DAY WINNING STREAK

U.S. stocks fell on Monday after U.S. President Donald Trump announced new movie tariffs and with stocks seen as due for a pullback following nine straight days of advances for the S&P 500 index .SPX and the Dow Jones Industrial Average .DJI.

On Sunday, Trump announced a 100% tariff on movies produced outside the U.S. though he provided no details on how such levies would be implemented.

Stocks have recovered from their lows on rising optimism that the United States will reach deals with trading partners that avoid high tariffs. Now traders are looking for concrete deals to show that their worst fears won’t be realized.

U.S. Treasury Secretary Scott Bessent on Monday said Trump’s tariff, tax-cut and deregulation agenda would work together to drive long-term investment to the U.S. economy, adding that U.S. financial markets were "anti-fragile" and would weather any short-term turbulence.

Traders are also waiting on the conclusion of the Federal Reserve’s two-day meeting on Wednesday when the U.S. central bank is expected to keep rates on hold and indicate ongoing concerns about a renewed bout of inflation.

A stronger than expected jobs report for April on Friday pushed back expectations of the next Fed rate cut to July, from June.

The Nasdaq Composite .IXIC was the weakest major index, falling 0.74% on the day. The S&P 500 .SPX and Dow Jones Industrial Average .DJI were down 0.63% and 0.24%, respectively. Energy .SPNY was the weakest subsector, dropping 2%, as oil prices tumbled.

Here is Monday's closing market snapshot:

(Karen Brettell)

MONDAY'S EARLIER LIVE MARKETS POSTS:

WHAT NEXT? MORGAN STANLEY UPDATES ITS STOCK MARKET TRADE IDEAS CLICK HERE

SURGING BUYBACKS POINT TO MORE BULLISH STOCKS OUTLOOK CLICK HERE

SERVICES WITH WINCE: ISM AND S&P GLOBAL SERVICES PMI CLICK HERE

US STOCKS TRIPPED UP BY MORE TARIFFS - CLICK HERE

AI, HUMANOIDS AND THE NEXT TRILLION-DOLLAR TECH RACE CLICK HERE

MOMENTUM MAKES A MOVE CLICK HERE

WHAT TO EXPECT FROM GERMANY'S NEW CHANCELLOR CLICK HERE

GRAPPLING WITH "DISTORTED AND CONFUSED" MACRO SIGNALS CLICK HERE

EARNINGS MISSES PUNISHED BY MOST IN 20 YEARS CLICK HERE

EUROPEAN SHARES MIXED, ENERGY LAGS CLICK HERE

EUROPE BEFORE THE BELL: FUTURES NUDGING HIGHER CLICK HERE

TAIWAN DOLLAR LEAPS; BUFFETT TO STEP DOWN CLICK HERE