AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.

This article will be updated throughout the day, so check back often for more daily updates. The Vanguard S&P 500 ETF (NYSEMKT: VOO) lost nearly 1% on Monday, and as Tuesday dawns is continuing to slide,

The tides of investor sentiment seem to be shifting, with more investors feeling pessimistic about the future. Just under 50% of U.S. investors are "bearish" about the next six months, according to the most recent weekly survey from the American Association of Individual Investors, with only around 32% feeling "bullish."

The seemingly sturdy U.S. stock market has begun to wobble. Its months-long tech-driven rally may be running out of steam amid broader uncertainty about the U.S. economy’s outlook.

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Torsten Slok, chief economist at Apollo, pointed out in a note Monday that stocks and home values keep climbing while cash flow from fixed income and private credit hover at multi-decade highs.

Apple has been seen as an AI loser. That means its stock hasn’t gotten caught up in the heavy selling pressure on AI stocks.

President Trump's tariffs have coincided with contraction across the manufacturing sector and a sharp deterioration in consumer sentiment.