Wall Street Ends Nine-Day Winning Streak as Oil Prices Plummet

U.S. stocks ended a nine-day winning streak, closing lower on Monday as oil prices dropped to a four-year low following OPEC+'s announcement to increase output. Major indices, including the S&P 500, Dow Jones Industrial Average, and Nasdaq, all fell, with technology giants like Apple, Amazon, and Tesla among the hardest hit. The energy sector also saw significant declines, with Exxon Mobil and others weighed down by falling oil prices, which have dipped below profitability levels for many producers. Berkshire Hathaway shares dropped after Warren Buffett revealed plans to step down as CEO, though he will remain chairman. The market downturn comes amid lingering uncertainty from ongoing trade tensions and tariffs, with recent delays in some tariffs offering only partial relief. Additionally, entertainment and other sectors faced pressure due to threats of new tariffs and broader economic slowdown concerns.