Nvidia's Record Buyback Couldn't Keep the Nasdaq Out of the Red on Monday Morning

Key Points The Nasdaq Composite fell 1.0%, the S&P 500 0.8%, and the Dow 0.7% by late Monday morning. Nvidia rose 2.1% on a $150 billion buyback increase, lifting its record-setting authorization to $235 billion. Trump rejected Iran's offer to reopen the Strait of Hormuz, calling the terms unacceptable, and oil prices spiked again. 10 stocks we like better than NASDAQ Composite Index › President Donald Trump turned down Iran's peace offer over the weekend. Oil went up, gold fell apart, and nearly every chipmaker had a miserable morning. The Nasdaq Composite (NASDAQINDEX: ^IXIC) index dropped 1% as of 11:26 a.m. ET while the S&P 500 (SNPINDEX: ^GSPC) fell 0.8%. The Dow Jones Industrial Average (DJINDICES: ^DJI) declined by 0.7%.