US stocks slip as Big Tech drags ahead of earnings, trade tensions linger

US stock markets closed lower on Monday as investor caution grew ahead of major Big Tech earnings reports and amid lingering uncertainty around US-China trade negotiations.

While April has been a volatile month for Wall Street, concerns over President Donald Trump’s new tariffs and mixed corporate guidance kept markets on the defensive to start the final trading week of the month.

The S&P 500 slipped 0.2%, pressured by weakness in heavyweight technology stocks, while the Nasdaq Composite fell 0.5%.

The Dow Jones Industrial Average ended near the flatline, struggling for direction throughout the session.

A retreat in shares of the so-called “Magnificent Seven” — the tech giants that have been key drivers of the recent bull market — weighed heavily on sentiment.

Amazon dropped about 1%, Microsoft edged down 0.1%, while Nvidia, Alphabet, and Tesla tumbled by more than 2%, 1%, and 0.5%, respectively.

The pullback comes just days before these companies are set to report their highly anticipated quarterly results, with investors bracing for what could be pivotal updates amid growing economic uncertainty.

According to FactSet data, about 73% of S&P 500 companies that have reported so far have beaten analysts’ earnings estimates, slightly below the five-year average of 77%.

Despite the solid showing for the prior quarter, Wall Street remains cautious.

Many companies are issuing uncertain guidance, citing the impact of new tariffs imposed by the Trump administration, leading analysts to trim forecasts for the second quarter and the rest of 2025.

The S&P 500 slipped 0.2%, pressured by weakness in heavyweight technology stocks.

The Nasdaq Composite fell 0.5%.

The Dow Jones Industrial Average ended near the flatline, struggling for direction throughout the session.