US stocks traded lower on Monday, led by a decline in technology stocks, as investors adopted a risk-off tone. The Nasdaq Composite fell 1.32% to 25,933.72, while the S&P 500 dropped 0.66% to 7,525.53. The Dow Jones Industrial Average traded down 0.34% to 52,459.22. Information technology stocks fell by 1.2%, contributing to the broader market weakness.

Micron Technology Inc shares declined more than 5% as investors reduced exposure to high-growth technology stocks. The broader market’s risk-off tone appeared to be the main driver behind the decline, with Micron also consolidating after a strong 12-month rally.

In commodity markets, oil traded up 5.3% to $75.18. Gold traded down 1.3% at $4,058.50, while silver fell 2.7% to $58.525. Copper rose 0.6% to $6.3225.

Market Movers

Twin Vee Powercats Co shares shot up 125% to $10.86 after the company announced a merger agreement to combine its boating operations with a USFM subsidiary in Greenland. Q32 Bio Inc shares surged 69% to $18.97 following the announcement of 36-week topline results from Part B of the SIGNAL-AA Phase 2a clinical trial. Agenus Inc shares gained 108% to $6.97 after the company announced it will raise $85 million to fund its colon cancer drug trial.

BNB Plus Corp shares dropped 57% to $0.16 after the company announced it received a Nasdaq delisting notification. YSX Tech Co Ltd shares fell 37% to $0.64 after reporting a year-over-year decrease in FY26 EPS results. SanDisk Corp declined 9% to $1,738.89 as investors reduced exposure to growth stocks.

Global Markets

European shares were mixed. The eurozone’s STOXX 600 declined 0.1%, while Spain’s IBEX 35 Index fell 0.01%. London’s FTSE 100 rose 0.01%, Germany’s DAX gained 0.1%, and France’s CAC 40 gained 0.3%.

Asian markets closed mixed. Japan’s Nikkei 225 fell 1.92%, Hong Kong’s Hang Seng index rose 0.16%, China’s Shanghai Composite dipped 2.06%, and India’s BSE Sensex gained 0.06%.

OPEC has revised its 2026 global oil demand growth forecast downward to 780,000 barrels per day, according to its July Monthly Oil Market Report. The organization lowered the projection from the previous estimate of 970,000 barrels per day, signaling a reduced outlook for consumption growth next year.

The adjustment reflects updated assessments of market conditions and economic factors influencing oil usage. The report provides a detailed analysis of supply and demand trends, highlighting the variance from earlier expectations.

Key Revisions

The July report outlines specific changes to the demand outlook for the coming year. The following table summarizes the revised figures:

The reduction of 190,000 barrels per day in the growth forecast points to potential headwinds for the oil market in 2026. This data is critical for market participants tracking long-term energy trends.