Stocks slipped Monday in mild risk-off trading with weakness in big technology favorites weighing on the major indexes. The Dow Jones industrial average dipped 0.5 percent, the S&P 500 eased 0.4 percent and the Nasdaq also lost 0.5 percent. US Treasury yields declined, the dollar was mostly better, and oil prices gained.

Profit-taking in Magnificent Seven and AI shares, including Nvidia, after their advance last week depressed equities generally. Rising bond yields in the morning after news of stronger than expected US pending home sales added to the stock selling impetus. Yields retreated later as investors looked for safer assets.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.