Stocks headed lower Monday after the Federal Reserve’s first interest rate cut of 2025 propelled markets to records last week, the Associated Press reports.
Futures for the S&P 500 fell 0.3% early Monday, while futures for the Nasdaq and Dow Jones Industrial Average slipped 0.4%.
T-Mobile shares shed 1.2% after the telecom announced that Chief Operating Officer Srini Gopalan would replace Mike Sievert as CEO.
Pfizer shares dipped 1.6% after it said it would spend $4.9 billion to acquire the development-stage obesity drugmaker Metsera.
