04:04 PM EST, 03/03/2025 (MT Newswires) -- US benchmark equity indexes ended lower Monday, weighed down by a technology sell off, as markets analyzed the latest manufacturing sector data.

* Nvidia ( NVDA ) shares were down 8.8%. Servers linked to a fraud case in Singapore may have included Nvidia ( NVDA ) chips and were supplied by Dell Technologies ( DELL ) and Super Micro Computer ( SMCI ) to local companies before being delivered to Malaysia, news outlets reported, citing Singapore's Home Affairs and Law Minister K. Shanmugam.

Dell shares were down 7%, while Super Micro slumped over 13%.

* Two surveys painted a mixed picture of the US manufacturing sector in February, with the Institute for Supply Management's data pointing to a slower expansion rate sequentially and S&P Global ( SPGI ) indicating the best growth rate since June 2022.

The ISM survey showed that price pressures are likely "stirring again" in the production pipeline, BMO Capital Markets said. "This is not what the (Federal Reserve) wants to see -- especially at a time when firms could soon potentially be dealing with the impact of major tariffs."

* The exact US tariff that will be levied against Canada and Mexico starting Tuesday is "fluid," Commerce Secretary Howard Lutnick reportedly said Sunday, implying it could be lower than the originally planned 25%. The additional 10% duty on Chinese imports is "set," according to Lutnick.

* April West Texas Intermediate crude oil closed down $1.64 to settle at $68.12 per barrel, while May Brent crude, the global benchmark, was last seen down $1.59 to $71.22 after OPEC+ said it will go ahead with a plan to begin returning 2.2-million barrels per day of production cuts in 18 monthly tranches beginning next month.

* Verizon (VZ) was up 1.6%. Lockheed Martin ( LMT ) said Sunday it is partnering 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.