Stocks closed lower on Wall Street Monday, breaking a nine-day winning streak, as oil prices hit a four-year low after the OPEC+ group announced plans to increase output.

The losses came amid a relatively calm day of mostly mixed trading. They follow several weeks of gains that helped the market wipe away its losses since President Donald Trump’s ongoing trade war began.

The S&P 500 fell 36.29 points, or 0.6%, to 5,650.38. The decline broke the benchmark index’s longest winning streak since 2004.

The Dow Jones industrial average fell 98.60 points, or 0.2%, to 41,218.83. The Nasdaq composite fell 133.49 points, or 0.7%, to 17,844.24.

Technology companies and other big stocks were among the heaviest weights on the market. Apple slumped 3.1%, while Amazon fell 1.9% and Tesla slipped 2.4%.

Berkshire Hathaway fell 5.1%. Legendary investor Warren Buffett announced over the weekend that he would step down as CEO by the end of the year after six decades at the helm. Buffett will still be chairman of the board of directors.

The OPEC+ group of eight oil producing nations announced over the weekend that it will raise its output by 411,000 barrels per day as of June 1.

U.S. crude oil prices fell 2% to $57.13 per barrel. The energy sector led the losses within the S&P 500. Exxon Mobil shed 2.8%.

The Federal Reserve this week is expected to hold its benchmark interest rate steady. It cut the rate three times in 2024 before taking a more cautious stance. T

The latest tariffs salvo in the trade war from Trump came Sunday night in a post on his Truth Social platform. He said he has authorized a 100% tariff on movies that are produced outside of the U.S. The impact is unclear.

Netflix slumped 1.9% and Warner Bros. Discovery fell 2%.

Shoemakers posted gains following the announcement that Skechers is being acquired for $9 billion and taken private by the investment firm by 3G Capital.

Skechers jumped 24.4%, while Crocs rose 3.4%. Deckers Outdoor, which owns the Ugg and Teva brands, rose 1.2%.

Treasury yields rose. The yield on the 10-year Treasury rose to 4.35% from 4.31% late Friday.

— Associated Press