Traders work on the floor of the New York Stock Exchange. Photo by Michael Nagle / Bloomberg

(Bloomberg) — US stocks touched session lows Monday afternoon, dropping below a key technical level after kicking off a packed week that will include earnings results from artificial-intelligence darling Nvidia Corp. and the release of long-delayed economic data.

The S&P 500 Index dropped 0.8% as of 2:05 p.m. in New York to trade below 6,700, on track to end a 10-week streak of winning Mondays. If the current losses hold through today’s closing bell, the benchmark will snap 138 sessions during which it held above its 50-day moving average — its second-longest stretch this century, data compiled by Bloomberg show.

The Nasdaq 100 Index slid 0.9%. A basket of the Magnificent Seven companies was

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