US stocks decline, ending longest daily winning streak in 2 decades

US stock indices closed lower on Monday, as investors awaited the Federal Reserve meeting set to begin on Tuesday and conclude on Wednesday, amid ongoing monitoring of trade policy developments in the United States.

The Dow Jones Industrial Average fell by around 0.25%, or 98 points, to 41,218, after gaining 3% last week.

The S&P 500 dropped 0.65%, or 36 points, to 5,650, ending a nine-day winning streak—its longest since 2004. The Nasdaq Composite also declined by approximately 0.75%, or 133 points, to 17,844.

The Stoxx Europe 600 edged up 0.15% to 537.31 points.

The UK markets were closed for a holiday, Germany’s DAX rose 1.10% to 23,344 points, and France’s CAC 40 fell 0.55% to 7,727 points.

Japan financial markets were closed for Children's Day, while China markets remained shut for the Labor Day holiday, with trading set to resume Tuesday.

Brent crude futures for July delivery fell by 1.7%, or $1.06, to settle at $60.23 per barrel, trimming earlier losses after hitting a low of $58.50 earlier in the day.

US WTI crude futures for June delivery dropped 2%, or $1.16, to $57.13 per barrel, after briefly touching $55.30.

As for gold, June futures rose by 2.4%, or $77.87, to settle at $3,322.30 an ounce, rebounding after ending last week with a 1.67% decline.

The Federal Reserve is widely expected to keep interest rates unchanged after its meeting concludes on Wednesday, despite repeated calls from President Donald Trump to lower borrowing costs.