On Monday, the U.S. stock market experienced significant declines, with both the S&P 500 and Nasdaq closing below a vital technical benchmark for the first time since April. Investors are keenly awaiting quarterly results from prominent retailers and chip manufacturer Nvidia, as well as a deferred U.S. jobs report expected later this week.

The downturn gained momentum in the afternoon session as all three main stock indexes descended past their 50-day moving averages. This average is closely watched as it symbolizes the intermediate trend in the market. Notably, retailers Walmart, Home Depot, and Target are expected to complete the quarterly earnings season soon. Home Depot's shares dropped amid anticipation, set to report Tuesday before markets open.

Additional factors influencing the m

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