U.S. stocks closed lower on Monday, 17 September 2018 with the S&P 500 and the Dow snapping multi day win streaks, as President Donald Trump prepared to announce additional tariffs on Chinese imports while China hinted at a new round of retaliation.

The S&P 500 was off 16.18 points, or 0.6%, to 2,888.80, with technology and consumer-discretionary sectors among the biggest losers. The decline represented the first loss for the broad-market benchmark of the past seven sessions. The Dow Jones Industrial Average fell 92.55 points, or 0.4%, to 26,062.12, marking its first daily drop of the past five sessions, and the Nasdaq Composite Index fell 114.25 points, or 1.4%, to 7,895.79.

Trade tensions have received renewed attention as the relationship between the U.S. and China showed signs of deteriorating with Trump planning to announce more tariffs on additional $200 billion of Chinese good late Monday.

The Trump administration is expected to impose $200 billion in tariffs on Chinese goods, which risks upending hope that the world's largest economies could settle a tit-for-tat trade dispute amicably and assuage market fears that trade clashes could escalate into animosities intense enough to disrupt global economic health.

Technology stocks—including names like Amazon.com which is classified as a consumer-discretionary firm—have been highly correlated to the trade issue, with investors worrying about the impact it could have on their supply chains and global demand prospects. The Chinese products targeted by the U.S. government for higher tariffs include many for which the country has a dominant market share.

The ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies, fell 0.5% to 94.487 in Monday trade.

Reviewing Monday's economic data, which was limited to the September Empire State Manufacturing Index, the Empire Manufacturing Survey for September declined to 19.0 (consensus 23.0) from the prior month's unrevised reading of 25.6.

Bullion prices ended higher at Comex on Monday, 18 September 2018. Gold futures settled higher on Monday, recouping some of their losses from late last week, as investors questioned the dollar rally's near-term durability, offering a demand boost for the dollar-priced precious metal.

December gold rose $4.70, or 0.4%, to settle at $1,205.80 an ounce. Gold logged a narrow win for last week, but posted declines over the past two sessions in a row. December silver rose 8.1 cents, or 0.6%, to $14.223 an ounce. The metal lost 0.2% for last week.

Crude oil futures posted a modest loss on Monday, 18 September 2018 finding some support from the threat of disruptions to supply from U.S. sanctions on Iranian oil, but also pressured by the potential for lower global demand on the heels of U.S.-China trade tensions. Speculation that some major oil producers will discuss further production increases at a meeting later this month also helped to limit Monday's price moves.

October futures on West Texas Intermediate crude, the U.S. benchmark, fell by 8 cents, or 0.1%, to settle at $68.91 a barrel on the New York Mercantile Exchange, after finishing last week with a gain of 1.8% for the most-active contract.

U.S. Treasuries were under pressure early, pushing the yield on the benchmark 10-yr note as high as 3.02%, its highest level in four months. However, buyers emerged later in the session, leaving the 10-yr yield higher by just one basis point at 3.00%.

Looking ahead, the NAHB Housing Market Index for September and Net Long-Term TIC Flows for July will be released on Tuesday.