Stock market today: Dow, S&P 500, Nasdaq slide as Nvidia, Tesla fall to start 2025’s final week

Gold (GC=F) and silver (SI=F) tumbled after touching record highs, bringing a parabolic move in the precious metals space to a screeching halt.

Gold futures tumbled more than 4% to hover near $3,400 while silver futures dropped 8% after briefly touching a high of $80 per ounce.

Traders were on edge going into Monday’s session after the Chicago Mercantile Exchange raised margin requirements on silver futures, forcing highly leveraged traders to either add cash or sell their positions.

Meanwhile, China, the world’s third-largest silver mining country, is expected to restrict exports starting in January, heightening concerns amid a race to supply the booming AI industry.

Over the weekend, Elon Musk weighed in on silver’s exploding prices writing on X, “This is not good. Silver is needed in many industrial processes.”

Read more here.

Lululemon (LULU) founder Chip Wilson hopes for change on company’s board in a proxy fight launched Monday as it searches for a new CEO, per the Wall Street Journal.

Wilson, who founded the company and served as CEO from 1998 to 2005, nominated three candidates to join the helm, including former On Running (ONON) co-CEO Marc Maurer (who stepped down earlier this year), former ESPN chief marketing Officer Laura Gentile and former Activision CEO Eric Hirshberg.

Wilson still owns 9.9 million Lululemon shares, holding an 8.4% stake, according to a report from Morningstar.

The stock climbed about 1% following the report, after a nearly 45% decline so far this year.

Earlier this month, Lululemon announced current CEO Calvin McDonald plans to step down from his role and as a member of the company’s board of directors, effective Jan. 31, 2026. He assumed the position in 2018, but the company has struggled in recent years as competitors like Alo, Vuori, Athleta, and others have entered the arena.

For the interim, CFO Meghan Frank and chief commerical officer André Maestrini will serve as interim co-CEOs.

Chair of the Board Marti Morfitt was also named executive chair, effective immediately, the company said “to ensure the continued execution of the company’s near- and long-term growth strategy during the leadership transition” in the release.

Following the announcement, activist investor Elliott Investment Management took a $1 billion stake in the company and is pushing for former Ralph Lauren executive Jane Nielsen to take the helm.

In Lululemon’s latest results, the company beat expectations.

Morningstar senior equity analyst David Swartz told Yahoo Finance the new CEO will have a “tall order.”

“A new CEO is going to have to come in and try to get back to where it used to be just a few years ago and try to get back to that growth period that it had really between about 2018 and 2023 or so, and that’s going to be a tall order for any CEO,” he said.

Intel (INTC) said in a regulatory filing Monday that the chipmaker has completed the sale of roughly 215 million shares worth $5 billion to Nvidia (NVDA).

AI giant Nvidia agreed to take the stake in Intel in September as part of a deal that was about a year in the making (pre-dating Intel’s new CEO Lip-Bu Tan), according to Nvidia CEO Jensen Huang. The news sent Intel shares soaring. The deal was cleared by US antitrust agencies in mid-December.

The two companies are set to collaborate to develop CPUs for data centers and personal computers.

Crucially, the partnership will not involve Nvidia using Intel’s struggling manufacturing business, Intel Foundry Services. IFS, which primarily makes Intel chips but opened up to outside customers around 2022, still lacks a substantial external customer to make the business viable.

Nvidia reportedly tested Intel’s 18A manufacturing process but decided not to move forward, according to Reuters. Analysts told Yahoo Finance that everything hinges on Intel’s upcoming processes, 18AP and 14A, and whether those will secure much-needed customers.

Read more about Intel stock’s moves in 2025.

Yahoo Finance’s Claire Boston reports:

Read the full story here.

Prices on crude oil jumped by more than 2% Monday morning as investors sought to balance any progress on peace talks in Ukraine with falling output and rising geopolitical tensions in the Middle East.

Futures on Brent crude (BZ=F), the international pricing benchmark, gained roughly 2.2% to sit above $61.50. West Texas Intermediate (WTI) crude (CL=F), the US benchmark, picked up 2.4% to land above $58.

In comments at Mar-a-Lago on Sunday, President Trump and Ukrainian leader Volodymyr Zelensky said substantial progress has been made toward reaching a deal to end the conflict in Ukraine, though several issues remain open questions. Kyiv and Moscow also have yet to make progress on the issue of concessions over land captured by Russia during the conflict.

Sanctions from the US Treasury Department seeking to curtail Russia’s ability to sell its oil internationally are likely to remain in place until a peace agreement is reached. The sanctions are likely keeping several hundred thousand barrels of oil off the market, according to analysts at Goldman Sachs, even as Russia continues to find buyers in China and India willing to take Russian barrels at a steep discount.

At the same time, a monthly decline in output reported by Kazakhstan and escalating rhetoric from Iran’s Ayatollah Ali Khamenei have put upward pressure on prices from the Middle East.

Kazakhstan’s massive Tengiz oilfield, where Chevron (CVX) serves as the lead operator, led a decline of 6% in monthly output in December after attacks by Ukrainian drones damaged a Russian export terminal on the Black Sea, according to Reuters.

Production also fell in the Tengiz field in December, according to Reuters, even as Chevron has spent the year working on a nearly $50 billion effort to increase production in the field by roughly 1 million barrels per day.

Oil is headed for its fifth straight monthly decline as December comes to a close.

US stocks pulled back at the market open on Monday, dampening hopes for a so-called “Santa Claus” rally — the historic upturn in stocks during the last five trading days of December and first two sessions in January.

The tech-heavy Nasdaq Composite (^IXIC) led declines at the open of Monday’s session, falling 0.7%, as Nvidia (NVDA) and Tesla (TSLA) dropped more than 2%. The S&P 500 (^GSPC) lost 0.4%, while the Dow Jones Industrial Average (^DJI) dipped below the flat line.

Here’s a look at some stocks making movesn premarket trading on Monday:

Coupang (CPNG) rose 2.8% after a more-than-6% gain on Friday as the South Korean e-commerce giant recovers from a cybersecurity breach that rattled investors. According to reports, a former employee who downloaded customer information deleted that data.

DigitalBridge Group (DBRG) shares soared 31% on reports that the alternative asset manager is in talks to be acquired by SoftBank Group. Digital Bridge’s assets include data centers and other AI infrastructure plays (scroll down to learn more.)

Novo Nordisk (NVO) stock fell 1.6% on reports that the maker of GLP-1 weight-loss drugs has cut prices for its obesity Wegovy by as much as half in some parts of China. A local media outlet, Yicai, reported that the Danish drugmaker lowered prices in some provinces and on an online marketplace run by JD.com (JD) ahead of its patent expiration date in March.

Mining stocks Newmont (NEM) and Freeport McMoRan (FCX) declined 3% and 1.7%, respectively, as precious metals pulled back from their all-time highs. Silver futures (SI=F) dropped more than 3% while gold future (GC=F) slid 1.7% after a historic year.

Olaplex (OLPX) stock rallied 5% on little news as shares of the haircare company looked to cap a highly volatile year on a positive note. Year to date, the stock is down 22%, but it has rallied 20% over the past month.

Check out more trending tickers ahead of the market open.

The “Magnificent Seven” stocks were mostly trading lower in the premarket sessions on Monday, after stocks closed near record highs on Friday and investors looked to build momentum for a Santa Claus rally.

Nvidia (NVDA) and Tesla (TSLA) stocks fell 1.2% and 1%, respectively, leading losses for Big Tech.

Meanwhile, Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) all declined by less than 1%. Amazon (AMZN) was the best-performing Magnificent Seven name during morning trading, hovering just above the flat line.

The declines in Big Tech dragged futures on the major indexes lower as investors were poised to bring ongoing concerns about AI valuations into the new year.

Shares of DigitalBridge (DBRG), a private equity firm that invests in assets such as data centers, soared as much as 54% in premarket Monday after Bloomberg reported that SoftBank (9984.T) was in advanced talks to acquire it.

From Bloomberg:

Read more here.

Silver (SI=F) futures retreated early Monday after briefly topping an all-time high above $80, as volatility came to the precious metals trade after a furious run to record after record.

Bloomberg reports:

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