Nvidia drags Street from records; oil, gold rise

A slide for market superstar Nvidia helped pull U.S. stock indexes down from their records.

The S&P 500 fell 0.6% Monday, coming off its 57th all-time high of the year so far. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite dropped 0.6% from its own record. Nvidia was the market’s heaviest weight after China said it’s probing the chip giant for potential antitrust violations.

Trudeau: Americans see reality of Trump tariffs

Canadian Prime Minister Justin Trudeau says Americans “are beginning to wake up to the reality that tariffs on everything from Canada would make life a lot more expensive.”

Trudeau also says dealing with Donald Trump on trade will be “a little more challenging” than the last time.

Trump firm leases brand to Saudi Arabia projects

The Trump Organization says it has leased its brand to two new real estate projects in Saudi Arabia just weeks before President-elect Donald Trump returns to the White House.

It said Monday it will partner with Dar Global, a London-based luxury real estate developer that will lease the Trump brand but fully own and develop the projects in the Saudi capital, Riyadh.

Cyprus, US double down on financial crime efforts

Cyprus and the U.S. say they’re doubling down on a joint effort to crack down on illicit finance with additional training of Cypriot law enforcement authorities to identify, investigate and prosecute financial crimes.

According to a joint statement issued Monday, an “ambitious” plan for next year will involve 21 weeks of training for different Cypriot law enforcement agencies on financial investigative and forensic accounting techniques, as well as the use of technology in investigations.

Mexican soldiers will get a pay raise

Mexico’s president says much of the money gained by eliminating independent oversight and regulatory agencies will go to the army to fund a rise in soldiers’ pay.

The announcement by President Claudia Sheinbaum on Monday is the latest in a series of strange funding sources to pay for the country’s increasingly influential military.

TikTok asks court to stay potential ban

TikTok on Monday asked a federal appeals court to bar the Biden administration from enforcing a law that could lead to a ban on the popular platform until the Supreme Court reviews the case.

The legal filing was made after a panel of judges on the same court sided with the government last week and ruled that the law, which requires TikTok to divest from its China-based parent company or face a ban as soon as next month, was constitutional.

Missouri companies sue to stop voter-OK’d law

Missouri business groups have filed a lawsuit to try to stop a voter-approved law that will raise the state’s minimum wage and require employers to give workers paid sick leave.

The powerful Missouri Chamber of Commerce and Industry, restaurant and grocers associations say the law violates a state constitutional requirement that ballot measures only address one issue.

Boeing lays off hundreds as part of promised cuts

Boeing has laid off hundreds of additional employees in Washington state and California as part of planned cuts that will eventually reduce the company’s workforce by about 17,000.

News outlets reported Monday that nearly 400 Boeing employees were laid off in Washington state and more than 500 in California.