Investors are preparing for the US presidential election and the Federal Reserve's possible interest rate cut later this week. US stocks fell on Monday, with the Dow dropping more than 400 points at one point, ultimately closing down 257 points or 0.6% at 41,794 points; the S&P 500 index fell 16 points or 0.3% to close at 5,712 points; and the Nasdaq closed down 59 points or 0.3% at 18,179 points.

Nvidia (NVDA.US) closed higher against the market, up 0.5%, replacing Intel (INTC.US) to become a component stock of the Dow Jones 30 Index, while Intel fell nearly 3%.

Except for Nvidia, the rest of the 'Fantastic Seven' all reported declines. Tesla (TSLA.US) fell over 2%. Meta (META.US) and Amazon (AMZN.US) fell more than 1%, while Apple (AAPL.US) and Microsoft (MSFT.US) fell by less than 1%.

After US regulators rejected Talen Energy's (TLN.US) request to increase nuclear power supply from a Pennsylvania plant to power a data center for Amazon, utility stocks were under pressure. However, oil prices rose by over 2%, with both fossil fuel and solar energy related stocks rising.

Due to auditor resignation scandals, Super Micro Computer (SMCI.US) hit a 52-week low shortly after market opening before rebounding, closing nearly flat.

Trump Media (DJT.US) experienced significant volatility throughout the day, closing up over 12%.