US equities opened on a cautious note Monday, with the tech‑heavy Nasdaq leading losses as investors scaled back exposure to high‑beta and crypto‑linked names. At the open the Nasdaq fell about 0.4%, the S&P 500 slipped 0.2% and the Dow was essentially flat, a picture consistent with selective weakness rather than a broad market rout.
Cryptocurrency‑linked stocks were among the worst performers, extending the volatility that has dogged the sector amid recent swings in digital‑asset prices. Names tied to bitcoin exposure fell sharply — one bitcoin‑focused stock dropped more than 6% — underscoring how swings in crypto markets continue to translate into outsized equity moves.
Oracle bucked the trend, rallying more than 3% after announcing plans to issue dollar‑denominated debt. The move was read by traders as a signal that corporate credit markets remain accessible for large tech issuers; it also prompted speculation about uses for the funds, from refinancing to share‑repurchase and strategic investments.
Disney suffered a steep selloff of more than 7% after reporting first‑quarter revenue of $25.98 billion, up 5% year‑on‑year. The sharp decline in the stock despite modest top‑line growth suggests investors were disappointed by underlying profit metrics, guidance or segment details not reflected in headline revenue — a reminder that headline growth no longer guarantees an untroubled reaction for legacy media companies.
Elsewhere, pockets of strength and weakness showed the market’s rotation in real time: storage and memory names outperformed, with one major flash‑memory supplier jumping more than 10% as investors hunted for beaten‑up cyclical exposure. European bourses were mixed to slightly higher, while commodity and precious‑metals moves added to the sense of a jittery global opening.
The market mood reflects a familiar post‑earnings and macro confluence: corporate newsflow (debt programmes, earnings beats and misses), continued crypto volatility, and a steady interest‑rate backdrop that keeps investors sensitive to funding costs and margin outlooks. For now the action looks selective — sectors and individual companies are dictating headline moves more than a single market narrative.