US markets: After initial gains, US markets trade in red as S&P 500 falls 0.5%, Dow Jones falls 0.17%

According to a Bloomberg report, global tech giant Apple also announced plans to invest hundreds of billions of dollars in the US over the coming years amid pressure from President Donald Trump and the growing threat of his tariffs.

US stocks were trading in green at open on Monday, February 24, with the S&P 500 gaining 0.4 percent. The Dow Jones Industrial Average also gained around 0.4 percent and the Nasdaq Composite gained around 0.3 percent. But by 10:09 AM EST (8:30 pm IST), the markets saw a reversal in trends. S&P 500 was trading in the red 5,993.6 (-0.3 percent), Dow Jones was trading at 43,400.1 (-0.06 percent)  and Nasdaq Composite was trading at 19,380.41 (-0.7 percent).

Pressure on the markets continued after US markets saw a weak close last week with the S&P 500 and Nasdaq Composite closing around 1.7 percent and 2.5 percent lower for the week, respectively.  Additionally, the Dow Jones Industrial Average also dropped fell 2.5 percent. According to CNBC, it was the worst week for the Dow since October 2024.

Top gainers on the Nasdaq included Nike, Charles River Laboratories and Berkshire Hathaway, which gained in the range of 3-5 percent. On the other hand, losers included Palantir Technologies Inc, Dominoes Pizza and Constellation Energy Corp.

This week, US markets watchers will have their eyes on a slew of big name earnings announcements this week including global chipmaker NVIDIA. Other earnings this week include Lowes, Home Depot and Salesforce.com.

According to a Bloomberg report, global tech giant Apple also announced plans to invest hundreds of billions of dollars in the US over the coming years amid pressure from President Donald Trump and the growing threat of his tariffs.

The tech giant said it planned to spend $500 billion over the next five years in the United States, with intentions to hire 20,000 new workers and produce AI servers. According to the report, the plans include a server factory in Houston slated to open in 2026 and a manufacturing academy in Detroit.

European markets were trading mixed at open, earlier in the day after Sunday's German Election results.

Asian markets tumble

Most Asia-Pacific markets fell on Monday. Mainland China's CSI300 index fell around 0.22 percent to close at 3,969.72. On the other hand, Hong Kong's Hang Seng index ended the 0.58 percent lower at 23,341.61 South Korea's Kospi ended 0.35 percent lower at 2,645.27. Japanese markets were closed on account of a public holiday.

Indian markets continue to face volatility

At close, the Sensex was down 856.65 points or 1.14 percent at 74,454.41, and the Nifty was down 242.55 points or 1.06 percent at 22,553.35. Nifty Mid and Smallcap indices shed 1 percent each.

Benchmark indices extended their fall for a fifth session in a row on February 24.