The Dow shed 260 points on Monday, while the S&P 500 and Nasdaq also settled deep in the red. Investors are eyeing a busy week of earnings, which will feature reports from Big Tech staples Alphabet (GOOGL) and Apple (AAPL), as they brace for a potential interest rate hike at the conclusion of the Federal Open Market Committee (FOMC) meeting on Wednesday.

GOLD, OIL PRICES SLIP AS FED ANXIETIES RUN HIGH

Oil prices fell on Monday to settle at their lowest level in over two weeks. The incoming interest rate decision generated uncertainty around crude demand and production, with investors also keeping an eye on an Organization of the Petroleum Exporting Countries and their allies (OPEC+) committee meeting on Wednesday. March-dated crude dipped $1.78, or 2.2%, to settle at $77.90 per barrel.

The upcoming Fed meeting also weighed on gold prices, which settled lower despite notching itslongest weekly win streak since August 2020 in the previous session. February-dated gold shed $6.40, or 0.3%, to settle at $1,939.20 per ounce.

More By This Author:

Nasdaq Sinks Triple Digits Ahead Of Big Tech Earnings
Dow Logs Longest Daily Win Streak Since October
Stocks Cruising To Weekly Wins As "Fear Gauge" Retreats