03:48 PM EST, 03/03/2025 (MT Newswires) -- US benchmark equity indexes are on track to close lower on Monday, led by a selloff in Nvidia ( NVDA ) shares as investors respond to the latest manufacturing sector data.

The Dow Jones Industrial Average fell 1.7% to 43,084, while the Nasdaq Composite dropped 2.7% to 18,338.2. The S&P 500 was down 2% to 5,837.1. Energy, consumer staples and real estate posted gains today while energy and technology saw the steepest declines.

Super Micro Computer ( SMCI ) was the worst performer on the S&P 500 with shares down over 11% after reports that servers linked to a fraud case in Singapore were supplied by the company and Dell Technologies ( DELL ) and may have included Nvidia ( NVDA ) chips.

Verizon (VZ) shares were up over 1.4% a day after Lockheed Martin ( LMT ) said it is collaborating with Nokia ( NOK ) and Verizon to incorporate Nokia's ( NOK ) 5G technology into its 5G.MIL Hybrid Base Station, which connects commercially available 5G with military communication systems.

The 10-year US Treasury yield lost 0.05 basis points to 4.2%, while the two-year rate was down 0.06 to about 3.9%.

April West Texas Intermediate crude oil was down 2.3% at $68.13 a barrel.