Drops for Nvidia and other tech stocks are weighing on Wall Street Monday and keeping it in its weekslong rut. The S&P 500 was down 0.2% in afternoon trading, coming off its fourth losing week in the last five.

Asian stocks retreated on Monday after U.S. stocks fell as good news on the job market raised inflation worries. Markets in Japan were closed for a holiday. U.S. futures dropped while oil prices surged more than $1 a barrel after President Joe Biden’s administration expanded sanctions against Russia’s critically important energy sector over its war in Ukraine.