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Nvidia ( NVDA ) falls after Chinese regulator launches antitrust

probe

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Hershey jumps after report Mondelez ( MDLZ ) exploring acquisition

of co

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Indexes down: Dow 0.19%, S&P 500 0.33%, Nasdaq 0.24%

(Adds analyst comment, market details, updates prices)

By Echo Wang

Dec 9 (Reuters) - Wall Street's main indexes fell on

Monday, driven by a drop in AI leader Nvidia ( NVDA ) that pressured tech

stocks, while investors awaited a key inflation report later

this week.

Nvidia ( NVDA ) fell 1.9% after China's market regulator

launched an investigation into the chipmaker over suspected

violation of antimonopoly law, dragging the information

technology sector down 0.4%.

Advanced Micro Devices ( AMD ) dropped 5.0% after BofA

Global Research downgraded its rating on the stock, weighing on

the Philadelphia Semiconductor Index, which slipped 0.5%.

"The market was taken a bit by surprise regarding China's

investigating (Nvidia ( NVDA )) as a possible antimonopoly-law violation.

So that's one thing that's putting a little damper on the

market," said Sam Stovall, chief investment strategist at CFRA

Research in New York.

At 1:47 p.m. EST, the Dow Jones Industrial Average

fell 85.08 points, or 0.19%, to 44,557.44, the S&P 500

lost 20.07 points, or 0.33%, to 6,070.20 and the Nasdaq

Composite lost 47.70 points, or 0.24%, to 19,809.92.

Eight out of 11 S&P 500 sectors lost ground, led by declines

in consumer discretionary stocks.

Comcast ( CMCSA ) slid 9.2% after forecasting a loss of more

than 100,000 broadband subscribers in the fourth quarter,

dragging down the communication services sector by

1.0%.

Hershey surged 12.6% to lead S&P 500 gainers,

following a report that Cadbury parent Mondelez ( MDLZ ) was

exploring an acquisition of the chocolate maker. Mondelez ( MDLZ ) shares

fell 1.3%.

Investors are anticipating the consumer price index (CPI)

data set for release on Wednesday, along with the producer price

index (PPI) on Thursday, ahead of the Federal Reserve's meeting

on Dec. 17-18.

Bets of a 25-basis-point rate cut at the upcoming meeting

shot up to more than 85% after data on Friday showed a rise in

the unemployment rate to 4.2% in November, indicating an easing

labor market.

Several Fed officials, including Chair Jerome Powell,

emphasized caution regarding the central bank's approach to

easing monetary policy due to the economy's resilience.

Wall Street's main indexes started December on a positive

note, with the benchmark S&P 500 and the tech-heavy

Nasdaq both gaining in their first week, while the

blue-chip Dow ended the week slightly lower.

U.S. stocks soared in November after Donald Trump won the

presidential election and his party secured control of both

houses of Congress, raising expectations for a more

business-friendly policy agenda.

On Monday, Workday rose 6.1% after S&P Dow Jones

Indices said last week the company would be added to the S&P 500

index.

Interpublic Group climbed 5.9% following a report

that marketing giant Omnicom ( OMC ) was in advanced talks to

acquire the advertising company. Omnicom ( OMC ) shares fell 9.2%.

Advancing issues outnumbered decliners by a 1.09-to-1 ratio

on the NYSE. There were 193 new highs and 19 new lows on the

NYSE.

The S&P 500 posted 21 new 52-week highs and 2 new lows while

the Nasdaq Composite recorded 110 new highs and 46 new lows.