U.S. stocks took a dip on Monday due to concerns about the timing of interest rate cuts from the Federal Reserve.

Investors worry that a strong economy may delay the first rate cut, potentially harming the stock market.

Data from the Institute for Supply Management showed that U.S. manufacturing expanded for the first time in 18 months in March, indicating a robust economy.

However, this also raises the prospect of the Fed postponing its first interest rate cut, which could weaken stocks.

Despite the overall market decline, the technology-heavy Nasdaq eked out a modest gain.

FedEx shares dropped over 3% after its rival, UPS, secured an exclusive contract to provide air cargo services for the U.S.

Postal Service, ending a decades-long partnership with FedEx.

Micron Technology shares surged nearly 5% after Bank of America upgraded its price target on the stock.

Conversely, shares of Donald Trump’s Trump Media plunged over 21%, erasing gains from its recent debut after reporting substantial losses and raising concerns about its financial stability going forward.

Interest rate decisions can significantly impact the stock market

The prospect of delayed interest rate cuts raised concerns among investors and contributed to the overall market decline

Sector-specific performance can diverge from the broader market

The technology-heavy Nasdaq outperformed the broader market, while FedEx shares dropped due to a loss of a major partnership

Market reactions can be influenced by company-specific news and outlook

Micron Technology stock rose on an optimistic price target upgrade, whereas Trump Media shares plummeted on concerns over substantial losses and financial stability