Alphabet's stock price fell even after Google's $32 billion acquisition deal of Wiz. It's now down 16% this year.
The 4% drop in the Nasdaq on Monday marked its worst day in years as Trump refused to rule out recession.
Volatile trading this week as investors react to Trump's tariffs has pushed the S&P 500 and the Nasdaq 100 to an important technical threshold.
The S&P 500 gained 1% on Friday, capping off the last trading day of Biden's presidency and marking the best week since the election.
A monthlong stock market decline sparked by surging bond yields could be interrupted by strong 4th quarter earnings.
Nvidia, AMD, and Broadcom sold off after the Biden Administration released new AI chip export rules late Friday.
"I think really the market is saying maybe no rate cuts in 2025, and that the 10-year could very easily break well above 5%," Jeremy Siegel said.
Stock market closures are rare outside of regular holidays. Other events that closed the market include Hurricane Sandy and the September 11 attacks.
Donald Trump hit back on Truth Social at a Washington Post report, saying his tariff policies wouldn't be watered down.
Stocks hit session highs around the same time Congressman Mike Johnson was reelected as Speaker of the House.
The Santa Claus trading window ends Friday, and a negative return during the seven-day trading window could be a bad sign for 2025, a strategist said.
The Dow ended more than 400 points lower on Monday, clawing back some of the deepest losses from earlier in the day.
According to Fairlead Strategies founder Katie Stockton, the recent weakness in the stock market flashed a technical "sell" signal.
Some of the biggest winners were mega-cap tech stocks, with Tesla up by 6% while Broadcom, Netflix, and Amazon each gained about 2%.
A cooler-than-expected PCE print for the month of November has Fed president Austan Goolsbee encouraged about future interest rate cuts.
After Wednesday's rate decision, investors will watch the Friday morning release of November PCE data, which will help inform future Fed policy.
MicroStrategy announced Monday that it acquired another 15,350 bitcoins, bringing its total holdings to of the token to 439,000.
Fundstrat's Tom Lee said stocks should rally into year-end due to favorable seasonals and a "buy the dip" mantra among active fund managers.
Ed Yardeni said the Fed could move forward with a hawkish interest rate cut next week after sticky inflation data.
The November consumer price index will be released Wednesday morning and is expected to show a slight uptick from October.