U.S. stocks took a nosedive on Monday, with S&P 500 and Nasdaq indices closing beneath significant technical benchmarks for the first time since late April. Investors are closely watching upcoming earnings reports from major entities like Nvidia and key U.S. retailers, as well as a long-awaited jobs report due later in the week.

Intense selling pressures saw the Dow, S&P 500, and Nasdaq end significantly lower, all breaching their 50-day moving averages. This trend indicator is viewed as a marker for intermediate-term direction. Retail giants including Walmart, Home Depot, and Target are expected to finalize the quarterly earnings scene this week. Additionally, Nvidia's earnings, central to Wall Street's AI trades, will be closely scrutinized.

Nvidia's stock fell by 1.9%, weighing heavil

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