01:44 PM EST, 11/17/2025 (MT Newswires) -- US equity indexes declined while volatility rose in midday trading on Monday as gains in communication services failed to outweigh a broad-based sectoral retreat led by technology.

The Nasdaq Composite fell 0.5% to 22,784.7, with the S&P 500 down 0.5% to 6,701.3 and the Dow Jones Industrial Average 0.5% lower at 46,901.7. Technology and financials were among the steepest decliners.

The CBOE Volatility Index (VIX), also known as a fear gauge for the S&P 500, jumped 8.5% to 21.52.

Among the five Magnificent-7 stocks that declined intraday, the worst performer was Apple ( AAPL ) , down 1.8%. Apple ( AAPL ) lost a trial on Friday over whether it violated Masimo's ( MASI ) patents in some of its Apple Watch models and was ordered to pay $634 million in damages, news outlets reported.

The top performer among the Mag-7 stocks was Alphabet (GOOG, GOOGL), up 3.4%, after Berkshire Hathaway ( BRK/A ) (BRK.A, BRK.B) disclosed in a Friday regulatory filing a $4.30 billion stake in the owner of the Google ( GOOG ) search engine. The stock was also among the top gainers in the S&P 500 and the Nasdaq.

Dell Technologies ( DELL ) slumped 8.3% intraday, among the worst performers on the S&P 500, after Morgan Stanley (MS) downgraded the company's stock rating to underweight from overweight. The investment bank also lowered its price target for Dell to $110 from $144.

Johnson & Johnson ( JNJ ) agreed to acquire Halda Therapeutics for $3.05 billion in cash as the health-care products conglomerate aims to expand its portfolio of therapies for solid tumors, including prostate cancer. Johnson & Johnson ( JNJ ) shares rose 2%, the Dow's top gainer.

In economic news, the New York Federal Reserve's Empire State manufacturing index surged to 18.7 in November from 10.7 in October, in contrast with the decrease expected to 5.8 in a survey compiled by Bloomberg. The index is one of the first manufacturing sector gauges to be released for November, and shows a quickening in the pace of expansion.

Meanwhile, US construction spending rose 0.2% in August, compared with a 0.1% decline expected in a survey compiled by Bloomberg and following an upwardly revised 0.2% increase in July.

Treasury yields were mixed, with the 10-year yield down 1.7 basis points to 4.13% while the two-year rate was little changed at 3.61%.

West Texas Intermediate crude oil futures slipped 0.2% to $59.97 a barrel.

Gold futures fell 0.5% to $4,073.33 per ounce.