U.S. Stocks Slump Ahead of Jobs Data

A slump in Broadcom and other AI-related stocks weighed on the tech-heavy Nasdaq Composite Index Monday, and an eventful week for the U.S. markets got off to a slow start.

Stocks have been volatile this month after steadily rising to records for much of the year. In recent weeks, though, investors began to have second thoughts about the future of the artificial-intelligence trade, and the outlook for the economy. Nevertheless, all three major indexes are within striking distance of all-time highs.