Wall Street drifts lower ahead of a busy week for markets

U.S. stocks drifted lower Monday ahead of a week packed with market-moving events, with the S&P 500 slipping 0.3% from its all-time high. Tech stocks led declines amid ongoing concerns about the sustainability of the AI boom. Nvidia, Wall Street's most influential stock, fell 2.3% ahead of its quarterly earnings report Wednesday, which could dictate the next major move for AI-related shares. Micron Technology dropped 6% and Broadcom fell 2%, while the 10-year Treasury yield eased to 4.70% from 4.74%. The Treasury Department's surprise move last week to increase buybacks of long-term Treasurys helped calm the bond market, though analysts warned its effect may be limited. Oil prices fell 2.3% to $90.55 per barrel, and Federal Reserve Chairman Kevin Warsh is set to speak Friday in Jackson Hole.