US Stocks Drop as Investors Wait on CPI Data to Set Fed’s Path

US stocks declined on Monday as investors refrained from risky bets and readied themselves for a data-filled week that could influence how quickly the Federal Reserve resumes its interest-rate cuts.

The S&P 500 Index closed down 0.3% in New York, having touched a record high during the session before pulling back. The Nasdaq 100 Index fell 0.4%. The Cboe Volatility Index hovered around 16.