S&P 500 Ends Flat, Dow Gains 0.5% on Weak Oil, but Nasdaq Slips 0.3% on China Chip Concerns

The S&P 500 ended flat on Monday, while the Nasdaq 100 slipped 0.3% and the Dow Jones Industrial Average added 0.5%, as weakness in oil prices supported industrial stocks but AI concerns weighed on chip equities.

ASML Holdings tanked 6% and the VanEck Semiconductor ETF fell 2% following a report that China has begun producing domestic deep ultraviolet lithography machines. Meanwhile, Brent crude futures for September delivery fell 8.7% to $88.36 per barrel and West Texas Intermediate crude settled down 7.5% to $82.61, supported by diplomatic talks between the U.S. and Iran. Apple surpassed Nvidia to become the world's largest company by market capitalization.