The S&P 500 fell 0.51% to 7,541.40 on Monday, extending its losing streak to three sessions as tech shares reversed an early rebound. The index had gained as much as 1.1% before retreating, with continued weakness in AI-related stocks weighing on market leaders. 

December S&P 500 futures traded as high as 7,693.75 and as low as 7,573.75. The contract was last quoted at 7,584.25, nearly 50 handles below the day’s midpoint of 7,633.75 and losing 29.75 handles from Friday’s settlement.

Oil prices tumbled as hopes for renewed U.S.-Iran negotiations eased concerns about potential supply disruptions in the Middle East. Brent crude fell 7.6% to $104.77 a barrel, while West Texas Intermediate declined 7.4% to $96.46. The retreat in energy prices helped support broader market participation even as tech shares remained under pressure.

After the closing bell, Apple Inc (NASDAQ: AAPL) reported fiscal fourth-quarter revenue of $114.48 billion and earnings of $2.10 per share, topping Wall Street expectations.

On Tuesday, market participants can look forward to September job openings data and factory orders, both scheduled for 10:00 a.m. ET. Investors will also watch the U.S. midterm elections and earnings from Advanced Micro Devices before the close, with Super Micro Computer reporting after the bell.

Among the top components of the index, Walmart Inc. (NYSE: WMT) emerged as the biggest gainer. The retail giant advanced by $4.18, or 3.38%, to close at $127.69. That performance outpaced the cash index’s decline by nearly four percentage points.

Conversely, the biggest loser was Microsoft Corp. (NASDAQ: MSFT). For the day, the tech giant declined by $14.79, or 2.83%, to close at $507.12.