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Tech Leads Stock Retreat; Dollar Falls: Markets Wrap

  • Tesla slide contributes most to the decline in S&P 500 Monday
  • Small caps underperform with most Russell 2000 members lower
U.S. Stocks Enjoy Jobs Beat's Reflationary Message
Photographer: Michael Nagle/Bloomberg

U.S. stocks retreated from an all-time high as investors awaited the heart of the earnings season and more economic data later in the week. The dollar fell.

Technology shares dragged down the S&P 500, which posted its biggest drop in almost four weeks. Tesla Inc. contributed the most to the decline as one of its electric cars that “no one” appeared to be driving crashed and killed two passengers. Small caps underperformed, with more than three-quarters of the stocks in the Russell 2000 closing lower. Copper prices surged to a seven-week high on prospects for strong demand and a pickup in inflation as economies rebound.